CI-121, Cap Montana Property Taxes Gets Approval For Signature Gathering

BOZEMAN, Mont., Jan. 10, 2022  Montana Secretary of State Christi Jacobsen has approved Constitutional Initiative 121 (CI-121), the Montana Property Tax Cap Initiative, for circulation and signature gathering.

If approved by voters, CI-121 would amend the Montana Constitution by capping property taxes on Montana residences. Voters have until June 17, 2022, to collect 60,359 signatures to qualify CI-121 for the ballot in November 2022. CI-121 will keep Montanans from being taxed out of their homes. And it has numerous other benefits:

• Rolls back tax valuations to 2019 – before COVID and a torrent of out-of-state money distorted property values.
• Caps property taxes rates on residences at 1% and limits annual increases in assessed valuations to 2% or the inflation rate, whichever is lower.
• Saves Montanans $175 million annually on excess property taxes.
• Provides predictability for homebuyers trying to calculate property tax payments.
• Does not cut funding to schools, police, and fire departments – rather, it simply reduces the rate of growth of tax revenues.
• Benefits renters by ending huge property tax increases that landlords pass on to them.
• Rewards long-term homeowners who build real neighborhoods.
• Reduces tax breaks for speculators, investors, and house "flippers."
• Saves taxpayer dollars by eliminating the need for most appraisals by the State.
• Provides the Montana Legislature with the authority to provide similar tax relief to all property classes, not just residences.

Media Contact

Al Olszewski, Treasurer, Cap Montana Property Taxes, +1 406-570-2949, [email protected]

SOURCE Cap Montana Property Taxes