Bigfork, Montana Property Taxes
The median property tax rate in Bigfork, MT is 0.56%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Bigfork at $502,200, the typical annual property tax bill reaches $2,855, which slightly exceeds the national median of $2,690. Property taxes in Bigfork are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bigfork'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 Bigfork or another part of Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bigfork, 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 Bigfork Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bigfork with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bigfork 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 Bigfork, Montana
Property taxes in Bigfork, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bigfork is 0.56%, significantly lower than the U.S. national median of 0.99%. Local government entities within Bigfork set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bigfork 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 Bigfork's effective property tax rate to other counties in Montana and the national median. For comparison, the 59911 zip code has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Bigfork provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bigfork Tax Rate
0.56%
Average Lake County Tax Rate
0.67%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bigfork, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59911 | 0.51% | 0.54% | 0.56% | 0.59% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Bigfork, Montana
In Bigfork, 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 Lake 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 Bigfork, 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 Bigfork is $502,200, with the 25th percentile tax bill at $1,972 and the 75th percentile tax bill at $4,625. The zip code 59911 has the highest and lowest median tax bill at $2,855. 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 Bigfork helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bigfork Assessed Value
$502,200
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 Bigfork, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59911 | $118,975 | $330,270 | $502,200 | $839,025 | $1,373,550 |
Source: Ownwell
Property Tax Bills Across Bigfork, Montana
In Bigfork, located in Lake County, MT, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and reflects the market value of the property. Once the assessed value is established, a tax rate is applied to calculate the annual tax bill. The median home price in Bigfork is $502,200, and property tax bills can vary significantly. For instance, homeowners at the 25th percentile pay around $1,972, while those at the 75th percentile pay approximately $4,625. At the 90th percentile, the tax bill can reach up to $7,688. The highest and lowest median tax bills in the area both stand at $2,855, reflecting the uniformity in certain ZIP codes. These property taxes fund essential local services such as schools, infrastructure, and emergency services. Homeowners in Bigfork can expect their property tax bills to be influenced by the market value of their homes and the specific tax rate applied by Lake County.
Average Bigfork Tax Bill
$2,855
Average Lake County Tax Bill
$2,601
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Bigfork, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59911 | $1,011 | $1,972 | $2,855 | $4,625 | $7,688 |
Source: Ownwell