Missoula County opposes HB 690: Provide an exemption for certain owner-occupied residential property, up for hearing tomorrow morning in the House Taxation Committee.
Missoula County opposes HB 690 not because of the objective, but rather the methodology it employs. HB 690 attempts to provide relief for the class four residential homeowners which is needed. It provides an exemption that is equal to the amount by which the market value in the tax year a protest is made exceeds the market value on January 1, 2021. The elimination of the entirety of the increase in market values will have a detrimental effect on local government’s ability to receive adequate property tax to support the ongoing delivery of essential services. We believe this problem is better addressed through an adjustment to the tax rate rather than what HB 690 provides. The Montana Legislature, on a bipartisan basis, for decades has decreased the tax rate to account for the average inflation in value over time. It is a small but fair measure of protection for the homeowners (and renters) who pay the biggest share of the property taxes in the state.
Representatives Marler and Thane,
ReplyDeleteMissoula County opposes HB 690: Provide an exemption for certain owner-occupied residential property, up for hearing tomorrow morning in the House Taxation Committee.
Missoula County opposes HB 690 not because of the objective, but rather the methodology it employs. HB 690 attempts to provide relief for the class four residential homeowners which is needed. It provides an exemption that is equal to the amount by which the market value in the tax year a protest is made exceeds the market value on January 1, 2021. The elimination of the entirety of the increase in market values will have a detrimental effect on local government’s ability to receive adequate property tax to support the ongoing delivery of essential services. We believe this problem is better addressed through an adjustment to the tax rate rather than what HB 690 provides. The Montana Legislature, on a bipartisan basis, for decades has decreased the tax rate to account for the average inflation in value over time. It is a small but fair measure of protection for the homeowners (and renters) who pay the biggest share of the property taxes in the state.
Please oppose HB 690.