Big Sky, Montana Property Taxes
The median property tax rate in Big Sky, MT is 0.58%, significantly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Big Sky reaching $1,364,200, the typical annual property tax bill is $7,879, which is substantially higher than the national median of $2,690. Property taxes in Big Sky 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 Big Sky'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 Big Sky or another part of Gallatin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Big Sky, Montana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,660
Ownwell’s Big Sky Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Sky with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Sky 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 Big Sky, Montana
Property taxes in Big Sky, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Sky is 0.58%, significantly lower than the U.S. national median of 0.99%. Local government entities within Big Sky set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Sky 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 Big Sky's effective property tax rate to other counties in Montana and the national median. For comparison, the 59716 zip code has the highest median property tax rate of 0.58%, while the same 59716 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Big Sky provides valuable insights into the varying tax landscape across Gallatin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Sky Tax Rate
0.58%
Average Gallatin County Tax Rate
0.80%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Sky, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59716 | 0.58% | 0.58% | 0.58% | 0.63% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Big Sky, Montana
In Big Sky, 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 Gallatin 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 Big Sky, 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 Big Sky 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 $7,879, found in zip code 59716.
Average Big Sky Assessed Value
$1,364,200
Average Gallatin County Assessed Value
$644,700
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Sky, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59716 | $618,300 | $860,500 | $1,364,200 | $2,488,288 | $4,444,280 |
Source: Ownwell
Property Tax Bills Across Big Sky, Montana
In Big Sky, located in Gallatin County, MT, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Big Sky is $1,364,200. Property taxes are determined by multiplying the assessed value by the local tax rate, which is influenced by several factors, including local government budgets and public service needs. Homeowners in Big Sky can expect varying tax bills. For example, the 25th percentile tax bill is around $4,979, while the 75th percentile tax bill can reach up to $15,591. At the higher end, the 90th percentile tax bill is approximately $31,490. These figures reflect the wide range of property values and the corresponding taxes within the area. Compared to the national median property tax rate of 0.99%, the tax rates in Big Sky demonstrate the unique economic and property value landscape of this region. Homeowners must consider these taxes as a significant part of their annual financial planning, impacting their overall cost of living and long-term investment in their property.
Average Big Sky Tax Bill
$7,879
Average Gallatin County Tax Bill
$5,055
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Sky, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59716 | $3,570 | $4,979 | $7,879 | $15,591 | $31,490 |
Source: Ownwell