Montana's House Bill 231, initiated by Governor Greg Gianforte, seeks to reform the property tax system by reducing taxes on primary residences and long-term rentals while increasing taxes on second homes and high-value properties. This legislation, stemming from a bipartisan task force, could benefit over 215,000 primary residences and provide indirect relief to 130,000 renters. As property taxes have surged nationally, this proposal aims to address inequities in the current system, where lower-income homeowners disproportionately shoulder the tax burden without consideration of their incomes.
The proposed law would lower property taxes for primary residences while increasing taxes on second homes, helping over 215,000 households in Montana.
The property tax reform aims to alleviate the financial strain on homeowners, particularly in light of significant tax bill increases, which have climbed nationally by 27% since 2019.
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