Lloyd, Montana Property Taxes
The median property tax rate in Lloyd, MT is 0.95%, 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 Lloyd, the typical annual property tax bill reaches $1,872, which is below the national median of $2,690. Property taxes in Lloyd 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 Lloyd'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 Lloyd 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
Lloyd, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,867
$1,732
Ownwell’s Lloyd Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lloyd with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lloyd 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 Lloyd, Montana
Property taxes in Lloyd, MT, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Lloyd is 0.95%, which is just below the U.S. national median of 0.99%. Local government entities within Lloyd set these rates annually, and they can vary across different neighborhoods. Each year, Lloyd 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 Lloyd's effective property tax rate to other areas in Blaine County and the national median. For comparison, the zip code 59535 has both the highest and lowest median property tax rate of 0.95% within Blaine County. Understanding how these areas compare with Lloyd provides valuable insights into the varying tax landscape across Blaine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lloyd Tax Rate
0.95%
Average Blaine County Tax Rate
1.39%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lloyd, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59535 | 0.88% | 0.90% | 0.95% | 0.99% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Lloyd, Montana
In Lloyd, 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 local 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 Lloyd, 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 Lloyd helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Lloyd both stand at $1,872 in the 59535 zip code.
Average Lloyd Assessed Value
$196,493
Average Blaine County Assessed Value
$134,724
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lloyd, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59535 | $51,274 | $92,963 | $196,493 | $269,282 | $320,814 |
Source: Ownwell
Property Tax Bills Across Lloyd, Montana
In the city of Lloyd, located in Blaine County, MT, property tax bills are calculated based on the assessed value of a home. The median home price in Lloyd is $196,493. Homeowners' tax bills are determined by multiplying the assessed value by the local tax rate. Several factors influence the final tax bill, including property location, local government budgets, and specific levies for services like schools and infrastructure. For homeowners in Lloyd, the tax bill can vary significantly. The 25th percentile tax bill is around $854, while the 75th percentile reaches $2,516. At the 90th percentile, homeowners might see bills as high as $3,165. To put this in perspective, the national median property tax rate stands at 0.99%. These taxes play a crucial role in funding essential public services, but they also impact homeowners' annual expenses. Understanding how these bills are calculated and the factors involved can help residents anticipate and manage their property tax obligations effectively.
Average Lloyd Tax Bill
$1,872
Average Blaine County Tax Bill
$1,761
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Lloyd, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59535 | $420 | $854 | $1,872 | $2,516 | $3,165 |
Source: Ownwell