59840 Property Tax Rate

Property owners in ZIP code 59840 (Hamilton, Montana) pay a median of $2,299/year in property taxes on homes valued at $398,800. This translates to an effective tax rate of 0.58%, which is 19% below the Montana state average of 0.71%.

The monthly property tax burden for a median-valued home in 59840 is approximately $192, which factors into escrow payments on mortgages. This ZIP code is located within Ravalli County. This is $414 more than the Montana average of $1,885/year.

Compared to similar ZIP codes in Montana, 59840 has lower property taxes. ZIP codes with similar effective rates include 59075 (0.58%) and 59843 (0.58%).

In Hamilton, property taxes represent approximately 3.6% of the median household income of $64,493, providing context for the relative tax burden on homeowners in this area.

Montana reassesses property at market value annually without any increase cap, so your taxes can rise substantially each year. Ravalli County offers Senior Homestead Exemptions (65+, one-year occupancy) and disabled exemptions administered by the Ravalli County Assessor. Apply for exemptions with the Ravalli County Assessor within 30 days of closing to activate the exemption for the following assessment year.