Bozeman, Park County, Montana Property Taxes
The median property tax rate in Bozeman, MT is 0.51%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Bozeman, the typical annual property tax bill reaches $2,762, slightly above the national median of $2,690. Property taxes in Bozeman are calculated based on the tax assessed value, which typically 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, Park County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$2,726
$2,530
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, Park County, Montana
Property taxes in Bozeman, Montana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bozeman is 0.51%, which is lower than both the Montana state median and 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 counties in Montana and the national median. For comparison, the 59715 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Bozeman provides valuable insights into the varying tax landscape across Park County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bozeman Tax Rate
0.51%
Average Park County Tax Rate
0.58%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bozeman, Park County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59715 | 0.45% | 0.50% | 0.51% | 0.53% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Bozeman, Park County, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bozeman, Montana. 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 Park 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. The median home price in Bozeman is $534,500, with tax bills ranging from $2,024 at the 25th percentile to $5,415 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bozeman, Park County, Montana
Source: Ownwell
$342,000
$522,768
$703,536
Average Bozeman Assessed Value
$534,500
Average Park County Assessed Value
$424,710
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bozeman, Park County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59715 | $328,555 | $409,216 | $534,500 | $775,070 | $1,098,848 |
Source: Ownwell
Property Tax Bills Across Bozeman, Park County, Montana
In Bozeman, Park County, MT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $534,500, homeowners can expect varying tax bills. The 25th percentile tax bill is around $2,024, while the 75th percentile tax bill reaches approximately $3,764. At the upper end, the 90th percentile tax bill can be as high as $5,415. These figures highlight the range of property tax burdens homeowners in Bozeman might face, influenced by factors such as property location, size, and improvements. The highest and lowest median tax bills in the area are both $2,762 in the 59715 zip code, reflecting uniformity in certain neighborhoods. Compared to the national median property tax rate of 0.99%, Bozeman's property taxes provide a perspective on how local rates can impact overall housing costs for residents.
Average Bozeman Tax Bill
$2,762
Average Park County Tax Bill
$2,626
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Bozeman, Park County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59715 | $1,582 | $2,024 | $2,762 | $3,764 | $5,415 |
Source: Ownwell