Lake County, Montana Property Taxes
The median property tax rate in Lake County is 0.67%, which is notably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Lake County at $340,373, the typical annual property tax bill amounts to $2,601, slightly below the national median of $2,690. Property taxes in Lake County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as the primary residence and agricultural exemptions. Understanding Lake County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Polson or another part of Lake County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lake County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$2,280
$2,116
Ownwell’s Lake County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Lake County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lake County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Lake County, Montana
Property taxes in Lake County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lake County is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Lake County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lake County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Lake County's effective property tax rate with other areas and the national median. For comparison, the city of Hot Springs has one of the higher property tax rates in the region at 0.90%, while the city of Lakeside boasts one of the lowest at 0.50%. Analyzing how Lake County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lake County Tax Rate
0.67%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake County, Montana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arlee | 0.70% | 0.77% | 0.82% | 0.88% | 1.05% |
| Big Arm | 0.60% | 0.62% | 0.63% | 0.65% | 0.68% |
| Bigfork | 0.51% | 0.54% | 0.56% | 0.59% | 0.65% |
| Charlo | 0.66% | 0.74% | 0.81% | 1.06% | 1.60% |
| Dayton | 0.49% | 0.49% | 0.51% | 0.57% | 0.65% |
| Elmo | 0.49% | 0.52% | 0.62% | 0.66% | 0.72% |
| Hot Springs | 0.75% | 0.84% | 0.90% | 0.95% | 1.32% |
| Lakeside | 0.49% | 0.49% | 0.50% | 0.52% | 0.56% |
| Pablo | 0.28% | 0.66% | 0.72% | 0.72% | 0.77% |
| Polson | 0.61% | 0.63% | 0.68% | 0.79% | 0.84% |
| Proctor | 0.51% | 0.53% | 0.56% | 0.60% | 0.69% |
| Ravalli | 0.61% | 0.76% | 0.80% | 0.86% | 0.89% |
| Rollins | 0.49% | 0.49% | 0.50% | 0.53% | 0.56% |
| Ronan | 0.54% | 0.65% | 0.72% | 0.87% | 0.97% |
| Saint Ignatius | 0.72% | 0.76% | 0.82% | 0.89% | 1.27% |
| St Ignatius | 0.67% | 0.76% | 0.86% | 0.93% | 1.12% |
| Swan Lake | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Lake County, Montana
In Lake County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Lake County Appraisal District. The assessed value, however, 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. Assessment notices in Lake County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the highest median tax bill in Lake County is in Lakeside, amounting to $5,040, while the lowest is in Pablo at $724. Being aware of these valuation processes in Lake County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Lake County Assessed Value
$340,373
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake County, Montana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arlee | $8,200 | $80,600 | $215,788 | $364,589 | $468,714 |
| Big Arm | $70,336 | $333,300 | $622,700 | $910,550 | $1,178,542 |
| Bigfork | $118,975 | $330,270 | $502,200 | $839,025 | $1,373,550 |
| Charlo | $8,280 | $50,120 | $199,788 | $358,271 | $491,278 |
| Dayton | $107,978 | $298,976 | $592,600 | $1,134,450 | $1,396,940 |
| Elmo | $9,580 | $107,567 | $519,000 | $745,300 | $1,052,560 |
| Hot Springs | $8,640 | $85,173 | $166,423 | $246,832 | $320,219 |
| Lakeside | $344,118 | $676,409 | $1,052,900 | $1,326,145 | $1,730,300 |
| Pablo | $5,600 | $9,250 | $39,800 | $191,800 | $242,248 |
| Polson | $72,327 | $225,000 | $380,100 | $610,400 | $997,309 |
| Proctor | $97,502 | $236,240 | $404,200 | $574,554 | $772,225 |
| Ravalli | $3,720 | $7,150 | $71,466 | $209,650 | $310,958 |
| Rollins | $223,128 | $422,400 | $799,400 | $1,345,700 | $1,808,720 |
| Ronan | $8,355 | $95,425 | $241,900 | $349,441 | $486,684 |
| Saint Ignatius | $27,104 | $179,421 | $268,167 | $413,050 | $554,000 |
| St Ignatius | $6,920 | $13,300 | $83,520 | $253,237 | $436,000 |
| Swan Lake | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Lake County, Montana
In Lake County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Lake County, the median home price is $340,373. The property tax bills vary significantly, with the 25th percentile paying around $1,647 and the 75th percentile paying approximately $4,016. At the higher end, the 90th percentile sees tax bills reaching up to $6,185. Factors such as property location, home improvements, and market conditions play a crucial role in determining the assessed value and, consequently, the tax bill. For example, homeowners in Lakeside face the highest median tax bill at $5,040, while those in Pablo experience the lowest at $724. These variations impact homeowners differently, influencing their financial planning and property investment decisions. With the national median property tax rate at 0.99%, Lake County's rates reflect a diverse range of tax burdens.
Average Lake County Tax Bill
$2,601
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake County, Montana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arlee | $331 | $1,395 | $2,426 | $3,323 | $4,251 |
| Big Arm | $1,394 | $2,494 | $4,036 | $5,690 | $7,539 |
| Bigfork | $1,011 | $1,972 | $2,855 | $4,625 | $7,688 |
| Charlo | $362 | $1,269 | $2,393 | $3,619 | $4,702 |
| Dayton | $832 | $1,752 | $3,177 | $5,616 | $6,800 |
| Elmo | $598 | $2,214 | $3,658 | $4,477 | $6,210 |
| Hot Springs | $572 | $1,212 | $1,615 | $2,342 | $4,645 |
| Lakeside | $1,943 | $2,931 | $5,040 | $6,522 | $8,449 |
| Pablo | $68 | $144 | $724 | $1,537 | $1,911 |
| Polson | $662 | $1,800 | $2,722 | $4,203 | $6,487 |
| Proctor | $1,188 | $1,791 | $2,490 | $3,248 | $4,244 |
| Ravalli | $210 | $838 | $1,392 | $2,068 | $2,585 |
| Rollins | $1,319 | $2,259 | $4,057 | $6,553 | $8,819 |
| Ronan | $294 | $1,268 | $2,076 | $2,853 | $3,967 |
| Saint Ignatius | $489 | $1,782 | $2,596 | $3,688 | $5,199 |
| St Ignatius | $219 | $535 | $1,887 | $2,841 | $4,660 |
| Swan Lake | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell