Lewistown, Montana Property Taxes
The median property tax rate in Lewistown, MT is 1.15%, considerably higher than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Lewistown at $190,950, the typical annual property tax bill reaches $2,045, which is below the national median of $2,690. Property taxes in Lewistown are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lewistown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lewistown or another part of Fergus County, understanding 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 1.15%, which is higher 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 counties in Montana and the national median. For comparison, Lewistown has the highest median property tax rate of 1.15%, while it also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Lewistown provides valuable insights into the varying tax landscape across Fergus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewistown Tax Rate
1.15%
Average Fergus County Tax Rate
0.99%
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 | 0.69% | 0.86% | 1.15% | 1.22% | 1.28% |
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 Fergus 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 median tax bill in Lewistown is $2045, with zip code 59457 reflecting both the highest and lowest median tax bills.
Average Lewistown Assessed Value
$190,950
Average Fergus County Assessed Value
$177,627
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 | $41,233 | $116,425 | $190,950 | $288,650 | $423,048 |
Source: Ownwell
Property Tax Bills Across Lewistown, Montana
In Lewistown, Fergus County, MT, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the home's size, age, location, and market conditions. Homeowners in Lewistown experience a range of tax bills. For example, the tax bill at the 25th percentile is $1,238, while it rises to $2,986 at the 75th percentile and reaches $3,995 at the 90th percentile. The highest median tax bill in Lewistown is $2,045, which is significantly higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in Lewistown. Homeowners need to be aware of these costs, as they can significantly affect their overall financial planning and homeownership experience.
Average Lewistown Tax Bill
$2,045
Average Fergus County Tax Bill
$1,787
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 | $463 | $1,238 | $2,045 | $2,986 | $3,995 |
Source: Ownwell