Biggest losers in Gov's property reappraisal bill CURRENTLY are people who own homes worth more than $1.1 million, they'll pay state tax increase of 31% in the Flathead. Gov top-tier threshold at $1.44M but before the 31% pending valuation increase in County post Session. 21.45% statewide #mtpol - ThreadSky

mikejopek.bsky.social • 2 days ago

Biggest losers in Gov's property reappraisal bill CURRENTLY are people who own homes worth more than $1.1 million, they'll pay state tax increase of 31% in the Flathead. Gov top-tier threshold at $1.44M but before the 31% pending valuation increase in County post Session. 21.45% statewide #mtpol

Comments

mikejopek.bsky.social•2 days ago

Gov says via his bill to tax the wealth but lots of fixed income grandmas and old-timers suddenly live in property which the state has valued above this top tier tax threshold. They're gonna be shocked when they get the bill

mikejopek.bsky.social•1 day ago

Anyone in top tier bracket, living in Flathead paid ave 38% state property tax increase due to 2023 reappraisal and now face another 31% state property tax increase from the 2025 reappraisal w the Gov's bill. Might be out of stater but just as likely to be grandma or fixed income old-timer #mtpol

igrenfell.bsky.social•1 day ago

That's almost double the median house price in Flathead county. If they can't afford the bill, they can always move to a smaller place.

I'd rather see that than have some nonsense like prop 13 freeze out young people from the market.

mikejopek.bsky.social•2 days ago

People who live in homes valued btw $740K and $1.4M -again after new home valuations hit books post Session w 21.45% statewide increase, will have their 2025 state reappraisals neutralized so people pay same post revaluation, if and only if they qualify. But baked in 2023 values remain for threshold

mikejopek.bsky.social•2 days ago

People who live in homes valued below $740K -again after new home valuations hit books post Session w 21.45% statewide increase, will have both their 2023 and 2025 state reappraisals neutralized so people pay same post both revaluations, if and only if they qualify. Unbaked the cake for threshold

mikejopek.bsky.social•2 days ago

In a new three tiered residential property tax rate system there will be plenty of jarring increases when the state revalues your home and suddenly the new state value of your home is above the state's threshold to get all your state property taxes back

mikejopek.bsky.social•2 days ago

There's lots of ifs, ors, and buts to see if you qualify. This will not be simple for folks, many tax winners in low growth regions of the state where home values are lower, lots of tax loser in high growth areas. But you gotta qualify and oh boy, good luck to rentals, family trusts etc

mikejopek.bsky.social•2 days ago

Other implication which occur w the Gov's reappraisal bill is that the state does not return all homeowner dollars, much flows thru a complex formula which redistributes dollars from high growth areas to low growth areas as well as gives homeowner property tax dollars to industry as tax cuts.

towanda01.bsky.social•1 day ago

If you have a million dollar home on flathead lake, you have enough money to pay increased property taxes.

Comments

Posting Rules

Reply