Charlo, Montana Property Taxes
The median property tax rate in CHARLO, MT is 0.81%, slightly lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in CHARLO, the typical annual property tax bill reaches $2,393, which is below the national median of $2,690. Property taxes in CHARLO are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding CHARLO'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 CHARLO 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
Charlo, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,618
Ownwell’s CHARLO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CHARLO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CHARLO 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 Charlo, Montana
Property taxes in CHARLO, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in CHARLO is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within CHARLO set these rates annually, and they can vary significantly across different neighborhoods. Each year, CHARLO 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 CHARLO's effective property tax rate to other counties in Montana and the national median. For comparison, the 59824 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with CHARLO 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 Charlo Tax Rate
0.81%
Average Lake County Tax Rate
0.67%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlo, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59824 | 0.66% | 0.74% | 0.81% | 1.06% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Charlo, Montana
In CHARLO, 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 CHARLO, 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 CHARLO helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 59824 has both the highest and lowest median tax bills, each at $2,393.
Average Charlo Assessed Value
$199,788
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 Charlo, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59824 | $8,280 | $50,120 | $199,788 | $358,271 | $491,278 |
Source: Ownwell
Property Tax Bills Across Charlo, Montana
In CHARLO, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. For instance, with a median home price of $199,788, the assessed value is used to calculate the property tax bill. The tax rate for CHARLO in Lake County is then applied to this assessed value to determine the final tax bill. Various factors influence the property tax bill, including the home's location, size, and any applicable exemptions. Homeowners in CHARLO can expect their tax bills to vary significantly. For example, the tax bill at the 25th percentile is $1,269, while at the 75th percentile, it rises to $3,619. Those at the 90th percentile face a tax bill of $4,702. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in the area.
Average Charlo Tax Bill
$2,393
Average Lake County Tax Bill
$2,601
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlo, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59824 | $362 | $1,269 | $2,393 | $3,619 | $4,702 |
Source: Ownwell