Great Falls, Cascade County, Montana Property Taxes
The median property tax rate in Great Falls, MT is 1.01%, slightly higher than both the national median of 0.99% and the Montana state median of 0.83%. With a median home value of $240,200 in Great Falls, the typical annual property tax bill reaches $2,402, just below the national median of $2,690. Property taxes in Great Falls are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Great Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Great Falls 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
Great Falls, Cascade County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$2,426
$2,251
Ownwell’s Great Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Great Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Great Falls 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 Great Falls, Cascade County, Montana
Property taxes in Great Falls, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Great Falls is 1.01%, which is higher than the U.S. national median of 0.99%. Local government entities within Great Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Great Falls 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 Great Falls' effective property tax rate to other areas in Cascade County and the national median. For comparison, the 59401 zip code has the highest median property tax rate of 1.05%, while the 59402 zip code has the lowest median tax rate of 0.73%. Understanding how these areas compare with Great Falls provides valuable insights into the varying tax landscape across Cascade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Great Falls Tax Rate
1.01%
Average Cascade County Tax Rate
1.00%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Great Falls, Cascade County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59401 | 0.98% | 1.02% | 1.05% | 1.08% | 1.11% |
| 59402 | 0.67% | 0.67% | 0.73% | 0.98% | 1.10% |
| 59404 | 0.75% | 0.82% | 0.99% | 1.03% | 1.05% |
| 59405 | 0.72% | 0.96% | 1.02% | 1.04% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Great Falls, Cascade County, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Great Falls, Cascade County, 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 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 Great Falls, 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. The median home price in Great Falls is $240,200, with property tax bills ranging significantly. For instance, the median tax bill in the 59404 zip code is the highest at $2,637, while the 59402 zip code has the lowest at $544. 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 Great Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Great Falls, Cascade County, Montana
Source: Ownwell
$63,664
$188,882
$314,100
Average Great Falls Assessed Value
$240,200
Average Cascade County Assessed Value
$238,100
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Great Falls, Cascade County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59401 | $131,860 | $174,500 | $213,800 | $253,300 | $313,940 |
| 59402 | $12,017 | $33,450 | $63,664 | $236,669 | $353,628 |
| 59404 | $58,410 | $191,100 | $271,000 | $379,325 | $498,371 |
| 59405 | $66,400 | $181,200 | $233,900 | $289,425 | $404,230 |
Source: Ownwell
Property Tax Bills Across Great Falls, Cascade County, Montana
In Great Falls, located in Cascade County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is a percentage of the home's market value. For instance, with a median home price of $240,200, homeowners can expect their property taxes to vary significantly. Factors such as property location, improvements, and local tax rates play a crucial role in determining the final tax bill. The tax bills can range widely, with the 25th percentile at $1,725 and the 75th percentile reaching $3,096. The 90th percentile tax bill can go as high as $4,126. In Cascade County, the zip code 59404 sees the highest median tax bill at $2,637, while the lowest median tax bill is $544 in zip code 59402. These variations affect homeowners differently, potentially influencing decisions on property investments and financial planning. Compared to the national median property tax rate of 0.99%, Great Falls homeowners experience a diverse range of property tax liabilities.
Average Great Falls Tax Bill
$2,402
Average Cascade County Tax Bill
$2,346
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Great Falls, Cascade County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59401 | $1,038 | $1,760 | $2,217 | $2,636 | $3,210 |
| 59402 | $103 | $261 | $544 | $1,600 | $2,961 |
| 59404 | $521 | $1,759 | $2,637 | $3,569 | $4,541 |
| 59405 | $509 | $1,682 | $2,351 | $2,860 | $3,759 |
Source: Ownwell