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Read the story at the Flathead Beacon by Mike Jopek
Excerpt:
“Ultimately after boxes of data, scores of words, that Legislature sent the governor a bill reducing residential tax rates, stopping the reappraisal’s tax valuation increase. Homeowners shouldn’t have to pay extra property taxes to Montana just because the state reassessed homes.
Reappraisal said homes were suddenly worth nearly $60 billion more statewide. This year’s Legislature didn’t reduce homeowner tax rates. They let the full increase of your home valuation be taxed at the same rate as before reappraisal.
That means that the state portion of homeowner property taxes increase 43% statewide come November tax bills. I know they keep saying that local government will stop extra property taxes from reappraisal.
Local government cannot mitigate the state portion of property taxes. That’s the job of the Legislature, always has been. Much like, it’s lawmakers’ job to assure industry and big commercial property taxes don’t shift onto local homeowners.
Similar to Montana’s deregulation debacle, this year’s Legislature suddenly increased the residential share of local taxes while every other class of property decreases.
Homeowners can expect the state portion of November’s property taxes to increase at the same percentage rate as their home increased in tax value during the state’s latest two-year reappraisal.
Local government is capped at 2.6%. Cities and counties are required by state law to not increase by more than half the rate of inflation over the past three years.
The 43% increase in state property taxes statewide means that residential property owners owe Montana, not local government, an extra $81 million annually when tax bills hit mailboxes, right before municipal and school bond elections.”
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