Lambert, Richland County, Montana Property Taxes
The median property tax rate in Lambert, MT is 0.52%, considerably lower than both the national median of 0.99% and the Montana state median of 0.83%. With the median home value in Lambert at $146,008, the typical annual property tax bill reaches $787, well below the national median of $2,690. Property taxes in Lambert 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 Lambert'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 Lambert 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
Lambert, Richland County, Montana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$759
$705
Ownwell’s Lambert Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lambert with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lambert 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 Lambert, Richland County, Montana
Property taxes in Lambert, Montana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lambert is 0.52%, which is lower than both the Montana state median and the U.S. national median of 0.99%. Local government entities within Lambert set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lambert 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 Lambert's effective property tax rate to other counties in Montana and the national median. For comparison, the 59243 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Lambert provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lambert Tax Rate
0.52%
Average Richland County Tax Rate
0.90%
Average Montana Tax Rate
0.83%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lambert, Richland County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59243 | 0.45% | 0.45% | 0.52% | 0.60% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Lambert, Richland County, Montana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lambert, Richland County, 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 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 Lambert, 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. For example, the zip code with the highest median tax bill in Lambert is 59243, valued at $787, while the lowest is also 59243, with the same value. 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 Lambert, Richland County, Montana
Source: Ownwell
$94,233
$163,704
$233,174
Average Lambert Assessed Value
$146,008
Average Richland County Assessed Value
$177,637
Average Montana Assessed Value
$317,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lambert, Richland County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59243 | $22,929 | $50,982 | $146,008 | $265,508 | $381,418 |
Source: Ownwell
Property Tax Bills Across Lambert, Richland County, Montana
Property tax bills in Lambert, located in Richland County, MT, are determined based on several key factors. The primary component is the assessed value of the property, which is derived from the market value. In Lambert, the median home price is $146,008. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. The tax rate in this region is influenced by local government budgets and public service funding needs. Homeowners in Lambert can expect a wide range of property tax bills. For instance, the 25th percentile tax bill is around $336, while the 75th percentile tax bill is approximately $1,413. At the higher end, the 90th percentile tax bill reaches up to $2,531. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Lambert's rates stack up. These property taxes impact homeowners by contributing to essential public services such as schools, emergency services, and infrastructure maintenance. Managing these taxes effectively is crucial for both personal financial planning and community development.
Average Lambert Tax Bill
$787
Average Richland County Tax Bill
$1,650
Average Montana Tax Bill
$2,646
Average United States Tax Bill
$2,690
Property Tax Bills Across Lambert, Richland County, Montana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59243 | $176 | $336 | $787 | $1,413 | $2,531 |
Source: Ownwell