Proposal would lower property taxes for working Montanans and protect against future tax hikes
Montana House and Senate Democrats announced their proposal for long-term property tax relief. The plan would cut property taxes for low- and middle-income Montanans, protect working folks and retirees from future property tax hikes, and ensure that millionaires and major corporations pay their fair share.
“The Governor’s tax hike has threatened the livelihoods and homes of working and retired folks across Montana.” said Senate Minority Leader Pat Flowers (Belgrade). “Montana Democrats hear Montanans’ outrage and have a plan to address this crisis by putting everyday Montanans and Main Street business before the wealthy and big corporations.”
“Property tax and rent is soaring under Republicans’ single-party control of state government,” said Representative Jonathan Karlen (Missoula). “Today, Democrats are bringing real solutions to immediately lower costs and provide stability for seniors, renters, and working families.”
Montana Democrats’ plan would provide a $50,000 homestead exemption to Montana residents and a $200,000 exemption for small businesses, immediately lowering taxes for homeowners, renters, and Main Street. It would also create a new tiered residential property tax rate that would cut taxes for low- and middle-income Montanans while making sure the owners of high value mansions pay their fair share. Lastly, it would establish a Housing Fairness Tax Credit that would ensure that working families and retired Montanans aren’t priced out of their homes by ensuring their property taxes don’t rise beyond their ability to pay.
Despite repeated warnings, the Governor and Republican Legislature failed to take action to prevent the property tax crisis that has rocked the state for over a year. Republicans even voted down Democratic legislation that would have provided relief for homeowners and renters. The result of Republicans’ inaction was a massive shift of property taxes away from large corporations onto homeowners and renters. The plan unveiled by Democrats today would reverse this corporate tax shift and put money back in Montanans’ pockets.
More details on the Democratic Legislators’ plan can be found HERE.