Property tax bills can feel confusing, especially when you’re trying to budget around your mortgage, insurance, and everyday life. If you own a home in Yellowstone County or plan to buy one soon, understanding how values, mill levies, and billing work will save you stress and money. In this guide, you’ll learn how taxes are calculated, when they’re billed, how escrow affects your payment, and where to find official information. Let’s dive in.

How Yellowstone County property taxes work

Market value and taxable value

Your annual property tax starts with your home’s market value as determined by the county assessor using standard valuation methods. Montana converts that market value into a taxable value using statewide classification and assessment rates. Those rates are set by law and can change, so always confirm current rules with the Montana Department of Revenue.

The key idea: market value is the starting point, but you pay taxes on the taxable value after the state’s assessment rules are applied for your property class.

Mill levies and the tax rate

Local taxing bodies set mill levies each year. These include the county, your city or town if applicable, schools, and special districts. A mill is $1 of tax for every $1,000 of taxable value.

The basic formula is simple:

• Tax = (Taxable Value ÷ 1,000) × Total Mills

Total mills are the sum of all levies serving your property for that tax year.

Sample calculation – hypothetical only

This example uses placeholder numbers to show the math. These are not Yellowstone County’s actual rates.

• Market value: $300,000
• Hypothetical assessment rate: 1.00%
  • Taxable value = $300,000 × 0.01 = $3,000
• Hypothetical total mills: 100

Now calculate:

• Tax = ($3,000 ÷ 1,000) × 100 = 3 × 100 = $300 for the year

Your actual bill will depend on your current assessed market value, the state’s assessment rate for your property class, and the total mills set by your taxing districts.

Finding your numbers

Assessed value and parcel details

Start by confirming your property’s market value and description in the county’s parcel records. Check that square footage, lot size, and property characteristics are accurate. If the description has errors, contact the county assessor to ask about corrections.

Total mills for your address

Your total mill levy depends on where you live and which districts serve your parcel. Review the county treasurer’s resources for the current year’s mill levy breakdown or your parcel’s tax detail. Because levies change annually, use the current year’s data for budgeting.

Where to confirm current rates

State assessment rules and deadlines are managed by the Montana Department of Revenue. For assessment rates, appeal procedures, and relief programs, start with the Montana Department of Revenue. For statutes and deadlines, you can also review the Montana Legislature website.

Billing, due dates, and penalties

Yellowstone County’s treasurer mails annual property tax statements and sets payment procedures according to state law. Many Montana counties mail bills in the fall and allow installment payments. If you miss a due date, penalties and interest can apply. Because calendars and payment options can change, always refer to the current instructions on the county treasurer’s site or your tax bill for exact dates, accepted payment methods, and late-payment costs.

Tip: If you are buying a home, ask the seller for the most recent tax bill so you and your lender can estimate the next cycle with fewer surprises.

Escrow and your mortgage payment

If you have a mortgage, your lender may collect a monthly escrow amount to cover property taxes and homeowner’s insurance. Here is how it usually works:

• Your lender estimates 12 months of taxes, divides that total by 12, and adds a small cushion as allowed by federal rules.
• You pay that amount with your monthly mortgage payment.
• Each year, your lender performs an escrow analysis. If taxes increase, you may see an escrow shortage that leads to a one-time payment or a higher monthly escrow amount.

For clear consumer protections and rules, review the CFPB guidance on escrow accounts.

Protests, appeals, and tax relief

If you believe your assessed value is too high, you can request a review and, if needed, file a formal appeal. Common evidence includes recent comparable sales, an independent appraisal, and documentation of condition issues or data errors. There are firm deadlines, so do not wait for your bill to arrive before you ask the assessor about your options.

Montana also provides property tax assistance and credits that depend on eligibility. Program details and income requirements can change. Start with the Montana Department of Revenue to review current programs and applications, and contact the county assessor or treasurer for local steps and forms.

Practical checklist for homeowners and buyers

• Look up your parcel to confirm the assessor’s value and property description.
• Check the current state assessment rate for your property class with the Montana Department of Revenue.
• Find your current total mill levy in the county treasurer’s mill levy table or your parcel’s tax detail.
• If you are buying: request the latest property tax bill from the seller and ask your lender how it estimates escrow and handles shortages.
• If you disagree with value: gather comparable sales, consider an appraisal, document condition issues, and ask the county assessor about appeal procedures and deadlines.
• If you are on a fixed income or are a veteran or have a disability: explore state-level assistance programs with the Montana Department of Revenue and confirm local steps with county offices.

For buyers and sellers in today’s market

Property taxes can impact affordability and pricing. As a buyer, factor the most current mill levies and potential increases into your monthly budget. As a seller, be ready to share your latest bill and clarify whether you have any exemptions or special assessments. If taxes change mid-year due to a reassessment or appeal, the county may issue an adjusted bill or refund according to local procedures.

If you want help interpreting a tax bill or estimating escrow alongside your home search or sale, reach out to the local team that understands both the numbers and the neighborhoods. Connect with Huskey Real Estate Group to talk through your goals.

FAQs

How does Yellowstone County determine my home’s market value?

• The county assessor estimates market value using standard valuation methods under state rules. Montana’s Department of Revenue oversees assessment practices and classifications.

What is the difference between assessed value and taxable value?

• Assessed market value is the starting point. Taxable value is calculated from that market value using statewide assessment rates for your property class.

How do I find the total mill levy for my property?

• Check the current-year mill levy breakdown through the county treasurer’s resources or your parcel tax detail. Total mills combine county, city, school, and special district levies.

When will I receive my tax bill and when is it due?

• The county treasurer mails annual statements and sets payment procedures. Review your bill and the treasurer’s current instructions for exact dates and installment options.

What happens if I pay late?

• Late payments can trigger penalties and interest as allowed by state law. Confirm current amounts and timelines with the county treasurer before the due date.

How does escrow affect my monthly mortgage payment?

• Your lender collects a monthly escrow amount to cover annual taxes and insurance. After the lender’s annual analysis, your payment may change if taxes increase. See CFPB guidance on escrow accounts for consumer protections.

How do I appeal my assessed value?

• Start with the county assessor to understand deadlines and forms. Build a case with comparable sales, an appraisal, and documentation of any data errors. You can also review state guidance through the Montana Department of Revenue.

Are there exemptions or assistance programs I might qualify for?

• Montana offers property tax assistance and credits based on eligibility. Program rules can change, so review current options with the Montana Department of Revenue and confirm local steps with county offices.

Where can I see past tax bills and levy details for my parcel?

• Use county treasurer and assessor resources for parcel-specific tax history and mill levy breakdowns. Refer to the current year’s figures for budgeting since levies can change annually.