Attached please find our analysis of HB 325. Current law allows local governments to increase tax levies for reductions in tax base, should the Commissioners choose to exercise that option. Residential (class 4) property already bears 83% of the property tax burden in Missoula County. We anticipate that this bill would increase that to 87%. We estimate the effect to the average homeowner in Missoula County in the attached (about $20.80 annually), but this excludes the impact of other taxing jurisdiction like the City of MCPS. I hope you find this information helpful. Please let me know if you have any questions or if I can provide additional information.
Dale, The total business personal property tax projected to be lost in the Development Park (203-A) is approximately $254,992 on a current business personal property taxable value of $466,472 (see attached).
The Tech District is not getting any Class 8 Tax revenue. I looked at the tax bills from the District and there is only one tax payer and that is Direct TV. They are only getting billed for real property from (203-E) the Tech District. Thanks, Andrew
We did some further analysis on this bill and found that the industrial increment district in the Missoula County Development Park near the airport stands to lose approximately $254,000 annually with the elimination of class 8 property. As you know, these funds are designated to construct infrastructure in the district as well as service outstanding bonds payable from this revenue. HB 325 could significantly impact our ability to complete the infrastructure and service the debt in the development park.
Rep. Barret,
ReplyDeleteAttached please find our analysis of HB 325. Current law allows local governments to increase tax levies for reductions in tax base, should the Commissioners choose to exercise that option. Residential (class 4) property already bears 83% of the property tax burden in Missoula County. We anticipate that this bill would increase that to 87%. We estimate the effect to the average homeowner in Missoula County in the attached (about $20.80 annually), but this excludes the impact of other taxing jurisdiction like the City of MCPS. I hope you find this information helpful. Please let me know if you have any questions or if I can provide additional information.
Best regards,
Dale
*documents attached above
Andrew Czorny wrote:
ReplyDeleteDale,
The total business personal property tax projected to be lost in the Development Park (203-A) is approximately $254,992 on a current business personal property taxable value of $466,472 (see attached).
The Tech District is not getting any Class 8 Tax revenue. I looked at the tax bills from the District and there is only one tax payer and that is Direct TV. They are only getting billed for real property from (203-E) the Tech District.
Thanks,
Andrew
Rep. Barrett,
ReplyDeleteWe did some further analysis on this bill and found that the industrial increment district in the Missoula County Development Park near the airport stands to lose approximately $254,000 annually with the elimination of class 8 property. As you know, these funds are designated to construct infrastructure in the district as well as service outstanding bonds payable from this revenue. HB 325 could significantly impact our ability to complete the infrastructure and service the debt in the development park.
Best regards,
Dale