Auditors say state property tax rolls have missed $1.2 billion of new construction

The Montana Department of Revenue, responsible for maintaining the property listings used to calculate property tax bills, is losing track of hundreds of millions of dollars a year in new construction as it struggles to keep its data updated, according to a study published Thursday by legislative auditors.

The auditors say the department’s approach to tracking new development and property-value-boosting renovations, which relies primarily on reviewing building permits, is failing to ensure that construction activity is quickly and accurately reflected in the tax rolls. That means lower tax bil...