Lake Mcdonald, Montana Property Taxes
The median property tax rate in Lake McDonald, MT is 0.55%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Lake McDonald at $413,550, the typical annual property tax bill reaches $2,283, which is below the national median of $2,690. Property taxes in Lake McDonald 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 Lake McDonald'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 Lake McDonald or another part of Flathead County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lake Mcdonald, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$2,275
Ownwell’s Lake McDonald Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake McDonald with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake McDonald 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 Lake Mcdonald, Montana
Property taxes in Lake McDonald, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake McDonald is 0.55%, which is lower than both the Montana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Lake McDonald set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake McDonald 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 Lake McDonald's effective property tax rate to other counties in Montana and the national median. For comparison, the 59921 zip code has the highest median property tax rate of 0.55%, while the same 59921 zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Lake McDonald provides valuable insights into the varying tax landscape across Flathead County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Mcdonald Tax Rate
0.55%
Average Flathead County Tax Rate
0.75%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Mcdonald, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59921 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Lake Mcdonald, Montana
In Lake McDonald, 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 Flathead 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 Lake McDonald, 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 Lake McDonald is $413,550, with tax bills ranging from $2,139 at the 25th percentile to $2,513 at the 90th percentile. The zip code 59921 has both the highest and lowest median tax bill, standing at $2,283. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lake Mcdonald Assessed Value
$413,550
Average Flathead County Assessed Value
$447,500
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Mcdonald, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59921 | $371,750 | $387,425 | $413,550 | $439,675 | $455,350 |
Source: Ownwell
Property Tax Bills Across Lake Mcdonald, Montana
In Lake McDonald, located in Flathead County, MT, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $413,550, homeowners can expect their tax bills to range from the 25th percentile at $2,139 to the 75th percentile at $2,427, and up to the 90th percentile at $2,513. Factors such as property improvements, neighborhood amenities, and market trends also play a significant role in determining the assessed value. Homeowners in Lake McDonald face tax bills that can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, the property taxes in Lake McDonald reflect the local economic conditions and property values. This system ensures that tax contributions are proportionate to property values, thereby funding essential community services and infrastructure.
Average Lake Mcdonald Tax Bill
$2,283
Average Flathead County Tax Bill
$3,622
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Mcdonald, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59921 | $2,052 | $2,139 | $2,283 | $2,427 | $2,513 |
Source: Ownwell