Lodge Grass, Montana Property Taxes
The median property tax rate in Lodge Grass, MT is 0.96%, slightly below the national median of 0.99% but higher than the Montana state median of 0.83%. With a median home value of $54,400, the typical annual property tax bill in Lodge Grass is about $650, which is significantly lower than the national median of $2,690. Property taxes in Lodge Grass are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Lodge Grass'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 Lodge Grass or another part of Big Horn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lodge Grass, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$522
Ownwell’s Lodge Grass Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lodge Grass with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lodge Grass 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 Lodge Grass, Montana
Property taxes in Lodge Grass, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lodge Grass is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Lodge Grass set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lodge Grass 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 Lodge Grass's effective property tax rate to other areas in Big Horn County and the national median. For comparison, the zip code 59050 has the highest median property tax rate of 0.96%, which is the same as the lowest median tax rate in the same zip code. Understanding how these areas compare with Lodge Grass provides valuable insights into the varying tax landscape across Big Horn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lodge Grass Tax Rate
0.96%
Average Big Horn County Tax Rate
1.09%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lodge Grass, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59050 | 0.92% | 0.93% | 0.96% | 0.98% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Lodge Grass, Montana
In Lodge Grass, 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 Big Horn 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 Lodge Grass, 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 Lodge Grass 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 $650, found in zip code 59050.
Average Lodge Grass Assessed Value
$54,400
Average Big Horn County Assessed Value
$96,282
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lodge Grass, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59050 | $5,878 | $12,540 | $54,400 | $120,402 | $227,238 |
Source: Ownwell
Property Tax Bills Across Lodge Grass, Montana
Property tax bills in Lodge Grass, located in Big Horn County, MT, are calculated based on the assessed value of a property. This assessed value is determined by local assessors who evaluate the market value of the home. For instance, the median home price in Lodge Grass is $54,400. The property tax rate in this region influences how much homeowners will pay annually. Tax bills can vary significantly, with the 25th percentile bill at $246 and the 75th percentile bill reaching $1,460. For those in the 90th percentile, tax bills can be as high as $2,840. These figures highlight the range of tax burdens that homeowners might face depending on their property's assessed value and the applicable tax rate. Comparatively, the median property tax rate in Lodge Grass stands out when juxtaposed with the national median of 0.99%. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Lodge Grass Tax Bill
$650
Average Big Horn County Tax Bill
$1,275
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Lodge Grass, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59050 | $77 | $246 | $650 | $1,460 | $2,840 |
Source: Ownwell