59068 Property Tax Rate

Property owners in ZIP code 59068 (Red Lodge, Montana) pay a median of $2,654/year in property taxes on homes valued at $413,900. This translates to an effective tax rate of 0.64%, which is 10% below the Montana state average of 0.71%.

The monthly property tax burden for a median-valued home in 59068 is approximately $221, which factors into escrow payments on mortgages. This ZIP code is located within Carbon County. This is $769 more than the Montana average of $1,885/year.

Compared to similar ZIP codes in Montana, 59068 has lower property taxes. ZIP codes with similar effective rates include 59072 (0.64%) and 59860 (0.64%).

In Red Lodge, property taxes represent approximately 4.2% of the median household income of $63,704, providing context for the relative tax burden on homeowners in this area.

Montana reassesses property to market value annually with no annual increase cap or carryover of base values from prior owners. Carbon County offers a Homeowner Exemption of $3,600 against assessed value for owner-occupied primary residences and a Senior Homeowner Exemption for owners 65+ meeting 5-year residency requirements — file with the Carbon County Assessor's office by June 1 each year. Apply for the homeowner exemption with the Carbon County Assessor before June 1 following your purchase to lock in the exemption for that tax year.