59062 Property Tax Rate

Property owners in ZIP code 59062 (Otter, Montana) pay a median of $825/year in property taxes on homes valued at $138,600. This translates to an effective tax rate of 0.60%, which is 17% below the Montana state average of 0.71%.

The monthly property tax burden for a median-valued home in 59062 is approximately $69, which factors into escrow payments on mortgages. This ZIP code is located within Powder River County. This is $1,060 less than the Montana average of $1,885/year.

Compared to similar ZIP codes in Montana, 59062 has higher property taxes. ZIP codes with similar effective rates include 59430 (0.59%) and 59925 (0.60%).

In Otter, property taxes represent approximately 1.8% of the median household income of $45,469, providing context for the relative tax burden on homeowners in this area.

Montana reassesses all property at market value each year with no assessment cap or grandfather clause for new purchases. Powder River County provides a Homeowner Exemption of $3,600 off assessed value for primary residences and Senior Homeowner Exemptions for owners 65+ who have occupied the home 5+ years — apply with the Powder River County Assessor's office by June 1 annually. Submit your homeowner exemption application to the Powder River County Assessor by June 1 of the year following purchase to claim the exemption on that tax year.