Bozeman, Montana Property Taxes
The median property tax rate in Bozeman, MT is 0.84%, slightly higher than the Montana state median of 0.83% but still below the national median of 0.99%. With the median home value in Bozeman at $699,600, the typical annual property tax bill reaches $5,462, significantly surpassing the national median of $2,690. Property taxes in Bozeman 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 Bozeman'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 Bozeman 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
Bozeman, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$5,877
Ownwell’s Bozeman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bozeman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bozeman 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 Bozeman, Montana
Property taxes in Bozeman, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bozeman is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Bozeman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bozeman 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 Bozeman's effective property tax rate to other areas in Gallatin County and the national median. For comparison, the zip code 59772 has the highest median property tax rate of 0.84%, while zip code 59718 has the lowest median tax rate of 0.84%. Understanding how these areas compare with Bozeman 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 Bozeman Tax Rate
0.84%
Average Gallatin County Tax Rate
0.80%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bozeman, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59715 | 0.60% | 0.67% | 0.84% | 0.84% | 0.84% |
| 59718 | 0.67% | 0.70% | 0.84% | 0.84% | 0.84% |
| 59772 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Bozeman, Montana
In Bozeman, 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 Bozeman, 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 Bozeman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 59715 at $6,179, while the lowest is 59772 at $3,243.
Average Bozeman Assessed Value
$699,600
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 Bozeman, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59715 | $404,400 | $606,074 | $794,800 | $1,086,900 | $1,532,720 |
| 59718 | $350,930 | $502,175 | $646,250 | $851,100 | $1,164,000 |
| 59772 | $385,631 | $385,631 | $385,631 | $385,631 | $385,631 |
Source: Ownwell
Property Tax Bills Across Bozeman, Montana
Property tax bills in Bozeman, located in Gallatin County, MT, are determined by assessing the market value of a property and applying the local tax rate. The county assessor evaluates the market value of homes, and this assessed value is then multiplied by the tax rate to calculate the annual property tax bill. For example, with a median home price of $699,600, homeowners can expect varying tax bills depending on their property's assessed value and specific location within Bozeman. The tax bill can range significantly, from the 25th percentile at $4,208 to the 75th percentile at $7,259, and up to $9,988 at the 90th percentile. The highest median tax bill in the area is $6,179, found in the 59715 zip code, while the lowest median tax bill is $3,243 in the 59772 zip code. These property taxes directly impact homeowners, influencing their annual budget and overall cost of living. Compared to the national median property tax rate of 0.99%, Bozeman's property tax rates reflect the local real estate market's dynamics.
Average Bozeman Tax Bill
$5,462
Average Gallatin County Tax Bill
$5,055
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Bozeman, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59715 | $3,194 | $4,735 | $6,179 | $8,261 | $11,212 |
| 59718 | $2,926 | $3,996 | $5,095 | $6,428 | $8,840 |
| 59772 | $3,243 | $3,243 | $3,243 | $3,243 | $3,243 |
Source: Ownwell