Trego, Montana Property Taxes
The median property tax rate in Trego, 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 Trego at $290,219, the typical annual property tax bill is $1,555, well below the national median of $2,690. Property taxes in Trego 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 Trego'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 Trego or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Trego, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,683
$1,562
Ownwell’s Trego Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trego with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trego 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 Trego, Montana
Property taxes in Trego, Montana, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Trego is 0.58%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Trego set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trego 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 Trego's effective property tax rate to other areas in Montana and the national median. For comparison, the zip code 59934 has both the highest and lowest median property tax rate in the region at 0.58%. Understanding how these areas compare with Trego provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trego Tax Rate
0.58%
Average Lincoln County Tax Rate
0.68%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trego, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59934 | 0.33% | 0.54% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Trego, Montana
In Trego, 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 Lincoln 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 Trego, 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 Trego 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 in Trego is 59934, with a median bill of $1555, while the lowest is also 59934, reflecting the same value.
Average Trego Assessed Value
$290,219
Average Lincoln County Assessed Value
$263,200
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trego, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59934 | $29,608 | $151,520 | $290,219 | $413,357 | $675,648 |
Source: Ownwell
Property Tax Bills Across Trego, Montana
In Trego, Montana, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The tax rate in Trego is applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including the property's market value, any improvements made, and comparable sales in the area. For homeowners in Trego, the tax bill can vary significantly. The 25th percentile tax bill is around $747, while the 75th percentile tax bill rises to approximately $2,368. At the 90th percentile, homeowners might pay as much as $3,809. This range indicates that property taxes can significantly impact household budgets, depending on the property's assessed value and the specific tax rate applied. Comparatively, Trego's property tax rates are lower than the national median property tax rate of 0.99%, making it a relatively affordable area for homeowners in terms of property taxes. However, the variability in tax bills underscores the importance of understanding local assessments and potential exemptions available to reduce the tax burden.
Average Trego Tax Bill
$1,555
Average Lincoln County Tax Bill
$1,776
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Trego, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59934 | $163 | $747 | $1,555 | $2,368 | $3,809 |
Source: Ownwell