Senate Democrats are asking Montana’s governor to call a special legislative session to address rising property values. It’s not yet clear if rising home values will lead to a hike in property taxes.
Homeowners across the state are receiving reappraisals of their property values up 30%, 40% or 50%, leaving many worried their taxes will jump, too.
Democratic leaders in the Senate say the state can ensure taxes do not skyrocket by adopting a revenue-neutral property tax rate. They’re asking the governor to call lawmakers back to Helena for one day to do just that.
Democrats say the one-time property tax rebates Republicans passed won’t be enough to offset higher taxes.
However, higher property values, when rising across the board, don’t necessarily result in an equal increase in taxes. Ultimately, local governments get the final say in what those rates are.
In a statement, the governor’s spokesperson Kaitlin Price criticized Democrats for voting against the tax rebates passed by Republicans and said a special session would be a waste of resources.
The Montana Department of Revenue will hold public town halls across the state in the coming weeks to talk about property appraisals and rising values. More information can be found at mtrevenue.gov.
