Recently my wife and I had the experience of attending the meeting at the Jefferson County Fairgrounds hosted by the Montana Department of Revenue. Certainly, the 100-plus in attendance caught the presenters off guard with many left standing along the walls in the room.
Most of the residents who attended because of the taxable assessment on their property which increased 46% statewide, were extremely concerned about the ability to pay the additional taxes. Some openly shared the fear of not being able to pay their taxes and some even stated they have already downsized a minimalistic lifestyle. Some of these comments came from long-time residents who were very fearful of these property assessments. I can’t help thinking who in the room will be the first to sell, or worst yet, lose their home due to the increased valuation in their property.
These changes were not new to the Department of Revenue, who anticipated the taxable revisions and advised the Legislature in November of 2022 about the impending escalation of values. The Department and Legislature were well aware of property values skyrocketing and Montana’s $2.5 billion state budget surplus. Still the crowd was seeking answers that the presenters suggested only can be corrected by Legislature…in two years.
