A median Montana home costs $425,400 (17th of 51). Borrowing 80% at 7.40% gives $2,748.22 per month once $244.58 of tax and $147.33 of insurance are added to $2,356.31 of principal and interest; at 5% down with PMI, budget $3,358.42.
Homestead exemptions and property tax relief
For 2026 a principal residence you own and live in at least seven months of the year is taxed at the homestead rates: 0.76% of the first $378,000 of value, 0.90% up to $756,000 and 1.10% up to $1.512 million (taxable-value rates, before mills). Lower-income owners can get 30% to 80% off the first $418,000 through the Property Tax Assistance Program.
First-time buyer programs
The Montana Board of Housing's Bond Advantage down payment assistance provides up to $15,000 (5% of the price) with an MBOH 30-year first mortgage. It requires a 620 credit score, homebuyer education and $1,000 of your own funds.
Transfer and recording taxes
Montana has no real estate transfer tax, and the realty transfer certificate filed with a deed is confidential under MCA 15-7-308, so individual sale prices are not public records.
Closing costs to plan for
Buyer costs are title, escrow and lender fees. Rural properties may also need a survey and well and septic inspections.
When property tax bills are due
Montana property taxes come in two halves: the first by November 30 (or within 30 days of the notice's postmark, if later) and the second by May 31. The lower 2026 rate for a primary residence applies only if the home is enrolled, and a new owner should confirm enrollment rather than assume the seller's status carries over.
Before you buy in Montana
The enrollment window for the 2027 homestead rate runs from May 4, 2026 to March 1, 2027, so enroll as soon as you close. You must live in the home at least seven months a year, and properties owned by an LLC or an irrevocable trust do not qualify. To dispute your value, file Form AB-26 within 30 days of the date on your classification and appraisal notice, or appeal to the County Tax Appeal Board. Pay disputed taxes under protest to keep your right to a refund.
2026 loan limit in Montana
FHFA 2026 one-unit conforming limits: the $832,750 baseline covers each of the 56 counties. The typical $340,320 loan stays conforming.
Montana numbers used above
| Measure | Montana | U.S. |
|---|---|---|
| Median home value (ACS 2024) | $425,400 | $360,600 |
| Effective property tax rate | 0.69% (33rd highest) | 0.89% |
| Average HO-3 premium (NAIC 2023) | $1,768 | $1,737 |
| Median household income | $75,340 | $81,604 |
| Median gross rent | $1,177 | $1,487 |
| Income needed at 28% (20% down) | $117,781 | – |
Frequently asked questions
When are Montana property taxes due?
Half by November 30 (or within 30 days of the notice's postmark) and half by May 31.
How do I get Montana's lower homestead rate?
Enroll with the Department of Revenue. For tax year 2027 the window runs May 4, 2026 to March 1, 2027.
How do I appeal my Montana appraisal?
File Form AB-26 within 30 days of your classification and appraisal notice, or appeal to the County Tax Appeal Board.
What is the median-home payment in Montana?
About $2,748.22 a month on a $425,400 home with 20% down at 7.40%, including tax and insurance.
Sources
- Montana DOR, residential property
- Montana DOR, homestead enrollment
- Montana DOR, 2026 property tax rates
- Montana DOR, PTAP
- Montana DOR, 2026 property tax information
- Montana DOR, property tax help
- Montana Housing, down payment assistance
- MCA 15-7-308
- FHFA, 2026 conforming loan limits
- Census ACS 2024 1-year (B25077, B25103, B19013, B25064); NAIC homeowners report (2023); Freddie Mac PMMS.
See also: all states · house affordability · Montana paycheck