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Montana home values have skyrocketed 40% since COVIDOut-of-state investors are bidding up Montana properties to record levels.
Property taxes are skyrocketing, tooCurrently, all Montana residential property is reappraised every 2 years and adjusted to market value for tax purposes (assessment value). The next reassessment means unprecedented property tax increases for Montanans.
Without CI-121, Montanans will pay an extra $175M in property taxes annuallyThis crushing tax burden will fall on homeowners as well as renters in the form of higher rents.
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Don't get taxed out of your home
Sign the petition to place CI-121 on the ballot
CI-121 would:
(1) Roll back residential tax valuations to pre-COVID levels, and move Montana to an 'acquisition value' system moving forward.
(2) Limit annual increases in tax valuations to 2% or the inflation rate (whichever is lower).
(3) Cap residential tax rates at 1%.
CI-121 would:
(1) Roll back residential tax valuations to pre-COVID levels, and move Montana to an 'acquisition value' system moving forward.
(2) Limit annual increases in tax valuations to 2% or the inflation rate (whichever is lower).
(3) Cap residential tax rates at 1%.
Top 10 reasons to support CI-121 |
#1 - Rolls back tax valuations to 2019 – before COVID and a torrent of out-of-state money distorted property values. #2 - Caps property taxes rates on residences at 1% and limits annual increases in assessed valuations to 2% or the inflation rate, whichever is lower. #3 - Saves Montanans $175 million annually on excess property taxes - with much of those benefits going towards homeowners on fixed incomes. #4 - Provides long-term predictability for homebuyers calculating their future property tax payments. #5 - Does not cut funding to schools, police, and fire departments – rather, it merely reduces the rate of growth of tax revenues. #6 - Benefits renters by eliminating huge property tax increases that landlords pass on to them. #7 - Rewards homeowners who stay in their homes long-term and build real neighborhoods. #8 - Reduces tax breaks for speculators, out-of-state investors, and house “flippers.” #9 - Saves taxpayer dollars by eliminating most of the need for appraisals by the State. #10 - Provides the Montana Legislature with the authority to provide similar tax relief to all property classes, not just residences. |