Property Taxes in Montana
Montana's effective property tax rate is 0.6%, ranking #16 out of 50 states (1 = lowest). The median annual property tax paid is $2,344.
Montana's property tax system is unusually complex, with different classes of property assessed at different percentages of market value. Residential property is assessed at approximately 1.35% of market value, with local mill levies applied to that assessed value. The state's rapid home price appreciation has led to significant property tax increases in western Montana communities. Montana offers a property tax assistance program for lower-income homeowners and a reduced rate for agricultural land, but there is no general homestead exemption.
By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: Tax Foundation, U.S. Census
Tax Rate
0.6%
Median Annual Tax
$2,344
National Rank
#16 of 50
1 = lowest
Homestead Exemption
Yes
Annual Property Tax by Home Price
| Home Price | Annual Tax | Monthly |
|---|---|---|
| $200,000 | $1,200 | $100 |
| $300,000 | $1,800 | $150 |
| $400,000 | $2,400 | $200 |
| $500,000 | $3,000 | $250 |
| $750,000 | $4,500 | $375 |
* Based on the average effective rate of 0.6%. Actual rates vary by county and municipality.
Homestead Exemption in Montana
Up to $350,000
File for the homestead exemption after purchasing your primary residence in Montana to reduce your assessed property value, lowering your annual tax bill. Contact your county assessor's office for the application.
How Montana Compares
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