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Montana collects $2.1 billion in property tax, with allocations as follows: 56% to schools, 28% to counties, 11% to cities/towns, and 5% to special districts. The 6 statewide university mills stay at the state, while the 95 statewide school mills are redistributed to local community schools, accounting for 35-40% of the $1.1 billion annual state school funding distribution. According to the latest Department of Revenue (DOR) appraisal, Montana properties have a total market value of $259 billion, spread across 18 tax and rate classes.... Full story
Montana is facing a growing housing crisis, driven by an influx of out-of-state home buyers and telecommuters. This is pushing up prices, making it difficult for Montanans to find affordable housing, and increasing residential property taxes. A solution I propose for consideration is to change the way property taxes are calculated for vacation homes and short-term rentals. Currently, all residential properties are taxed at the same rate, regardless of whether they are owner-occupied, rented out long-term, rented out short-term, or vacation... Full story
