Livingston, Montana Property Taxes
The median property tax rate in Livingston, MT is 0.70%, which is lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Livingston, the typical annual property tax bill reaches $2,736, slightly below the national median of $2,690. Property taxes in Livingston 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 Livingston'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 Livingston 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
Livingston, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$2,896
Ownwell’s Livingston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Livingston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Livingston 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 Livingston, Montana
Property taxes in Livingston, Montana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Livingston is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Livingston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Livingston 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 Livingston's effective property tax rate to other counties in Montana and the national median. For comparison, the zip code 59047 has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Livingston 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 Livingston Tax Rate
0.70%
Average Park County Tax Rate
0.58%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Livingston, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59047 | 0.44% | 0.52% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Livingston, Montana
In Livingston, 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 local 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 Livingston, 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 Livingston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $2736 in the 59047 zip code, while the lowest is also $2736 in the same zip code.
Average Livingston Assessed Value
$413,750
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 Livingston, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59047 | $113,682 | $307,500 | $413,750 | $563,625 | $872,490 |
Source: Ownwell
Property Tax Bills Across Livingston, Montana
In Livingston, located in Park County, MT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by county assessors who evaluate the market value of properties. Homeowners in Livingston face a median home price of $413,750. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, and subsequently, the tax bill. For example, the tax bill for homes at the 25th percentile is approximately $2,039, while those at the 75th percentile can reach up to $3,465. At the higher end, the 90th percentile tax bill is around $4,659. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and public safety. Compared to the national median property tax rate of 0.99%, Livingston's property tax bills reflect the specific economic and market conditions of the area.
Average Livingston Tax Bill
$2,736
Average Park County Tax Bill
$2,626
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Livingston, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59047 | $903 | $2,039 | $2,736 | $3,465 | $4,659 |
Source: Ownwell