Lewistown, Montana Property Taxes
The median property tax rate in Lewistown, MT is 0.83%, aligning with the state median but lower than the national median of 0.99%. With a median home value in Lewistown of $46,452, the typical annual property tax bill amounts to $383, significantly below the national median of $2,690. Property taxes in Lewistown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Lewistown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lewistown or another part of the city, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lewistown, Montana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,660
Ownwell’s Lewistown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lewistown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewistown to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lewistown, Montana
Property taxes in Lewistown, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewistown is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Lewistown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewistown estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lewistown's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59457 has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these figures compare with Lewistown provides valuable insights into the varying tax landscape across Stillwater County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewistown Tax Rate
0.83%
Average Stillwater County Tax Rate
0.69%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewistown, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59457 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Lewistown, Montana
In Lewistown, Montana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Stillwater County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lewistown, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lewistown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $383, found in the 59457 zip code.
Average Lewistown Assessed Value
$46,452
Average Stillwater County Assessed Value
$299,005
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewistown, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59457 | $46,452 | $46,452 | $46,452 | $46,452 | $46,452 |
Source: Ownwell
Property Tax Bills Across Lewistown, Montana
In Lewistown, located in Stillwater County, MT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors and is a percentage of the property's market value. For Lewistown, the median home price is $46,452. The property tax rate is applied to this assessed value to determine the annual tax bill. In this area, homeowners can expect a consistent tax bill, with the 25th, 75th, and 90th percentiles all at $383. This uniformity suggests a stable tax environment. Compared to the national median property tax rate of 0.99%, Lewistown offers a relatively affordable property tax scenario. For homeowners, these taxes fund essential local services such as public schools, infrastructure, and emergency services. Understanding how these bills are calculated can help residents anticipate their annual expenses and better manage their finances. A stable and predictable tax bill can contribute to financial stability and planning for homeowners in Lewistown.
Average Lewistown Tax Bill
$383
Average Stillwater County Tax Bill
$2,154
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewistown, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59457 | $383 | $383 | $383 | $383 | $383 |
Source: Ownwell