Flathead and Whitefish Lakes Help Economy
The beauty of Flathead Lake and Whitefish Lake in Western Montana result in much higher home values, which in turn generates about $3 billion in taxes, according to a new study from the Whitefish Lake Institute and the UM Flathead Lake Biological Station.
Over 7,000 sales transactions between 2004 and 2018 in the vicinity of the two bodies of water were studied. The results were revealed in a University of Montana news release this week. Lakefront properties on Flathead Lake brought in $12 million to $17 million in property tax revenues. Whitefish lakefronts equaled between $5 and $8 million.
A main conclusion of the study, lakefront property sales at Whitefish Lake showed a 254 percent average premium and Flathead had a 114 percent average between 2004 and 2018, compared to similar property 2 kilometers away.