Red Lodge, Carbon County, Montana Property Taxes
The median property tax rate in Red Lodge, MT is 0.69%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Red Lodge, the typical annual property tax bill reaches $2,616, slightly below the national median of $2,690. Property taxes in Red Lodge are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Red Lodge'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 Red Lodge 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
Red Lodge, Carbon County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$2,646
$2,456
Ownwell’s Red Lodge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Red Lodge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Red Lodge 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 Red Lodge, Carbon County, Montana
Property taxes in Red Lodge, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Red Lodge is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Red Lodge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Lodge 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 Red Lodge's effective property tax rate to other counties in Montana and the national median. For comparison, the 59068 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Red Lodge provides valuable insights into the varying tax landscape across Carbon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Red Lodge Tax Rate
0.69%
Average Carbon County Tax Rate
0.61%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Lodge, Carbon County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59068 | 0.57% | 0.58% | 0.69% | 0.75% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Red Lodge, Carbon County, Montana
In RED LODGE, 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 Carbon 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 RED LODGE, 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 RED LODGE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2616 in the 59068 zip code, which also has the lowest median tax bill at the same value.
Property Tax Assessment Values Across Red Lodge, Carbon County, Montana
Source: Ownwell
$140,200
$261,859
$383,518
Average Red Lodge Assessed Value
$383,518
Average Carbon County Assessed Value
$299,384
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Red Lodge, Carbon County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59068 | $136,725 | $261,425 | $383,518 | $536,875 | $753,860 |
Source: Ownwell
Property Tax Bills Across Red Lodge, Carbon County, Montana
In Red Lodge, located in Carbon County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. Homeowners in Red Lodge can expect varying tax bills depending on their property's value, with the median home price at $383,518. Several factors influence the final tax bill, including property size, location, and improvements. For example, the 25th percentile tax bill in Red Lodge is around $1,894, while the 75th percentile tax bill reaches approximately $3,520. At the 90th percentile, homeowners might see tax bills as high as $4,561. These figures indicate a range of potential tax burdens, reflecting differences in property values and specific assessments. Compared to the national median property tax rate of 0.99%, the tax rates in Red Lodge can significantly affect homeowners' annual expenses. Understanding these factors helps homeowners anticipate their property tax obligations and plan accordingly.
Average Red Lodge Tax Bill
$2,616
Average Carbon County Tax Bill
$2,004
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Lodge, Carbon County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59068 | $915 | $1,894 | $2,616 | $3,520 | $4,561 |
Source: Ownwell