Great Falls, Montana Property Taxes
The median property tax rate in Great Falls, MT is 0.89%, slightly lower than the national median of 0.99% but higher than the Montana state median of 0.83%. With the median home value in Great Falls at $329,171, the typical annual property tax bill reaches $2,844, which is just below the national median of $2,690. Property taxes in Great Falls are calculated based on the assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Great Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Great Falls or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Great Falls, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$2,930
Ownwell’s Great Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Great Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Great Falls 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 Great Falls, Montana
Property taxes in Great Falls, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Great Falls is 0.89%, slightly below the U.S. national median of 0.99%. Local government entities within Great Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Great Falls 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 Great Falls' effective property tax rate to other areas in Chouteau County and the national median. For comparison, the 59405 zip code has the highest median property tax rate of 0.98%, while the 59404 zip code has the lowest median tax rate of 0.71%. Understanding how these areas compare with Great Falls provides valuable insights into the varying tax landscape across Chouteau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Great Falls Tax Rate
0.89%
Average Chouteau County Tax Rate
0.95%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Great Falls, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59404 | 0.63% | 0.65% | 0.71% | 0.89% | 1.01% |
| 59405 | 0.94% | 0.97% | 0.98% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Great Falls, Montana
In Great Falls, 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 Chouteau 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 Great Falls, 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. For instance, the highest median tax bill in Great Falls is $3,671 in the 59405 zip code, while the lowest median tax bill is $2,226 in the 59404 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Great Falls Assessed Value
$329,171
Average Chouteau County Assessed Value
$152,700
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Great Falls, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59404 | $134,096 | $221,196 | $321,595 | $412,082 | $492,907 |
| 59405 | $106,443 | $221,240 | $373,036 | $437,830 | $510,028 |
Source: Ownwell
Property Tax Bills Across Great Falls, Montana
Property tax bills in Great Falls, Chouteau County, MT, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county’s property assessor, who evaluates the market value of the home. The tax rate is then applied to this assessed value to calculate the annual tax bill. Various factors influence the assessed value, including the property's size, location, and condition. For homeowners in Great Falls, the median home price is $329,171. Property tax bills can vary significantly, with the 25th percentile at $1,712 and the 75th percentile at $3,918. The highest median tax bill in the area is $3,671, found in zip code 59405, while the lowest median tax bill is $2,226 in zip code 59404. These taxes fund essential public services like schools, emergency services, and infrastructure. Understanding how these factors contribute to the overall tax bill helps homeowners better manage their finances and anticipate annual expenses.
Average Great Falls Tax Bill
$2,844
Average Chouteau County Tax Bill
$1,469
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Great Falls, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59404 | $1,516 | $1,702 | $2,226 | $2,965 | $3,819 |
| 59405 | $751 | $2,158 | $3,671 | $4,344 | $5,085 |
Source: Ownwell