Montana Property Tax

Effective Property Tax Rate

74.98%

Median Annual Tax

$2,535

Median Home Value

$338,100

Montana Property Tax Overview

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Key Statistics (2023 ACS)

Metric	Value
Median home value	$338,100
Average effective property tax rate	0.75 %
Median annual property tax	$2,535
National average effective tax rate	0.97 %
Difference from national average	22.52 % lower
Montana rank (effective rate)	#23 of 52 states/territories

Source: According to the U.S. Census Bureau's American Community Survey (ACS) (5‑year estimates, 2023).

Example Property Tax Bills

Using the average effective rate of 0.75 %, the following illustrates typical annual property tax amounts:

Home value	Estimated annual property tax
$250,000	$1,875
$500,000	$3,749

These figures are calculated as Home value × 0.75 % and represent the median tax burden for the state. Individual assessments may differ.

Variation by County

Montana’s property tax system is administered at the county level. While the statewide average effective rate is 0.75 %, each county sets its own millage rates based on local budget needs, school funding, and services. Consequently, property tax bills for identical home values can vary noticeably from one county to another.

Comparison to the National Average

Effective rate: Montana’s 0.75 % is 22.52 % lower than the national average effective property tax rate of 0.97 % (U.S. Census Bureau data).
Ranking: With an effective rate that places the state at #23 out of the 52 U.S. states and territories, Montana’s property tax burden is below the median national level.

Considerations for Retirees

Tax burden: The lower effective rate means that, on average, retirees in Montana may face a smaller property‑tax expense than in many other states.
Assessment limits: Some Montana counties offer property‑tax assessment caps or exemptions for seniors, but these programs are not statewide and depend on local ordinances.
Cost of living: The median home value of $338,100 is higher than the national median home value (approximately $400,000 in 2023), which can offset the lower tax rate for some retirees.

The information above is factual and does not constitute a recommendation.

Considerations for Landlords

Revenue vs. expense: A lower effective property tax rate can reduce operating costs for rental properties compared with states that have higher rates.
County differences: Landlords should evaluate the specific millage rates in the counties where their investment properties are located, as the tax burden can differ substantially.
Assessment practices: Property values for tax purposes may be assessed at a lower rate than market value, potentially lowering tax liabilities for rental units.

Again, these points are descriptive and not advisory.

Frequently Asked Questions

1. How is the effective property tax rate calculated?
The effective rate is the total annual property tax divided by the assessed market value of the property, expressed as a percentage. For Montana, the 2023 ACS average is 0.75 %.

2. Do all counties in Montana have the same tax rate?
No. Each county sets its own millage rates, so the actual property tax bill for a given home value can vary across the state.

3. Are there any statewide exemptions for seniors or landlords?
Montana does not have a universal statewide exemption for seniors or landlords. Some counties may offer local exemptions or caps, so property owners should consult the county assessor’s office for specific programs.

All data presented are based on the most recent ACS estimates (5‑year, 2023) from the U.S. Census Bureau.

Neighboring States