Department of Revenue Meets with Meagher County

The Montana Department of Revenue is holding town hall meetings to help taxpayers understand the property valuation process and how the department determined the new values on their classification and appraisal notices. The meetings are an opportunity for taxpayers to ask questions and learn more about the property tax system in Montana. The meeting was attended by County Commissioners, Representative James Bergstrom, city council members, and school board trustees.

The Meagher County town hall meeting was held on July 18, 2023. The meeting was well-attended, with over 50 people in attendance. The Montana Department of Revenue committed nearly 10 staff members to meet with local residents. The town hall meeting was a success. Taxpayers were able to ask questions and learn more about the property tax system in Montana. The Montana Department of Revenue staff was able to answer questions and provide clarification.

Property taxes in Montana are calculated based on the fair market value of the property, the mill levy, and any applicable exemptions. The market value is determined by the Montana Department of Revenue's Property Assessment Division. The mill levy is the rate at which property is taxed, and it is set by each county. Exemptions can reduce the amount of property tax that a taxpayer owes.

The following formula is used to calculate property taxes in Montana: Property tax = market value * mill levy * (1 - exemptions)

Market value: The market value of a property is determined by the Montana Department of Revenue's Property Assessment Division. The department uses a variety of factors to determine market value, including the property's size, location, and condition. Mill levy: The mill levy is the rate at which property is taxed. It is set by each county, and it can vary from county to county. Exemptions: Exemptions can reduce the amount of property tax that a taxpayer owes. Some common exemptions include homestead exemptions, agricultural exemptions, and senior citizen exemptions.

Many community members at the Meagher County town hall meeting asked questions about where the money from property taxes goes, why the valuation has changed so much in recent years, and whether or not prices from high growth areas like Gallatin County affect our property values.

The Montana Department of Revenue staff answered these questions as best they could. They explained that property tax revenue is used to fund a variety of essential services, including schools, roads, and law enforcement. They also explained that the valuation of property is based on a number of factors, including market value, location, and condition. Finally, they acknowledged that prices in high growth areas can have an impact on property values in other areas, but they said that the impact is usually limited.

Overall, the town hall meeting was a productive opportunity for taxpayers to learn more about the property tax system in Montana. The Montana Department of Revenue staff was able to answer questions and provide clarification, and community members were able to express their concerns and get their questions answered. Importantly, the employees committed to returning to help residents fill out appeal forms and tax assistance requests.