Montana Tunnels tax payment bolsters local budgets

A year ago, no one expected to see the money from the Montana Tunnels mine’s delinquent property taxes, so Jefferson County was pleasantly surprised when Denver-based Goldfield Funding Partners LLC paid $5.1 million in back taxes last fall. Now the county is distributing the multimillion-dollar payment to various agencies that should have been getting the revenue all along.

Goldfield Funding Partners LLC’s payment came days before a Dec. 2 deadline on a tax deed, which prevented Jefferson County from seizing the property.

Goldfield’s payment covered the delinquent taxes from mid-2009 until 2021. The payout also went toward $2.42 million in interest and penalties accrued during the delinquency. The county distributed these fees to the agencies in Tax District 1F, including the Jefferson City Volunteer Fire Department, Clancy School, Jefferson High School and the North County Library District. The state of Montana and Jefferson County also claimed a portion of the tax payout.