Governor Delivers Property Tax Relief
Joining Rep. Llew Jones, R-Conrad, Gov. Greg Gianforte last week celebrated a new law that delivers Montana homeowners more than $120 million in permanent property tax relief over the next several years.
“Property taxes are too high and need to be reined in,” Gianforte said. “Working with Rep. Jones, we got a fiscally responsible, creative solution across the finish line to reduce the burden of property taxes over the long term. Taken together with our property tax rebates, we secured over $470 million in property tax relief for Montanans this session.”
Sponsored by Jones, House Bill 587 establishes the state special revenue school equalization and property tax reduction account, directing a portion of revenues from school equalization local tax levies — or 95 mills — to the account.
The bill represents the largest permanent property tax relief bill of the session.
“Because it buys down local permissive mills, it will ultimately serve as a permanent property tax cut beginning next year and growing each additional year. The more money the state collects in the 95 mills, the more that it redistributes locally to help ensure our students have equity,” Jones added.
In addition to the permanent property tax relief the new law delivers, the governor secured up to $1,350 in property tax rebates for Montana homeowners over the next two years.