Swan Lake, Montana Property Taxes
The median property tax rate in Swan Lake, MT is 0.58%, considerably lower than both the national median of 0.99% and Montana's state median of 0.83%. With the median home value in Swan Lake, the typical annual property tax bill reaches $1,007, significantly below the national median of $2,690. Property taxes in Swan Lake 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 Swan Lake'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 Swan Lake or another part of Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Swan Lake, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,047
Ownwell’s Swan Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swan Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swan Lake 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 Swan Lake, Montana
Property taxes in Swan Lake, Montana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Swan Lake is 0.58%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Swan Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swan Lake 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 Swan Lake's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59911 has both the highest and lowest median property tax rate of 0.58%. Understanding how these areas compare with Swan Lake provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Swan Lake Tax Rate
0.58%
Average Lake County Tax Rate
0.67%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swan Lake, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59911 | 0.54% | 0.57% | 0.58% | 0.62% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Swan Lake, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Swan Lake, Montana. 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 Lake 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 Swan Lake, 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. For example, the median home price in Swan Lake is $180,485, with tax bills ranging from $311 at the 25th percentile to $1,655 at the 90th percentile. The zip code 59911 has the highest and lowest median tax bill, both at $1,007. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Swan Lake Assessed Value
$180,485
Average Lake County Assessed Value
$340,373
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Swan Lake, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59911 | $19,655 | $37,512 | $180,485 | $282,980 | $286,200 |
Source: Ownwell
Property Tax Bills Across Swan Lake, Montana
In Swan Lake, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. For homeowners in Lake County, the median home price is $180,485. The tax rate is applied to the assessed value to determine the annual property tax bill. Several factors can influence the assessed value, including property size, location, and any improvements made to the property. Homeowners in Swan Lake can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $311, while it rises to $1,625 at the 75th percentile and reaches $1,655 at the 90th percentile. Compared to the national median property tax rate of 0.99%, the property tax rates in Swan Lake are relatively moderate. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Swan Lake Tax Bill
$1,007
Average Lake County Tax Bill
$2,601
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Swan Lake, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59911 | $203 | $311 | $1,007 | $1,625 | $1,655 |
Source: Ownwell