Auditors say state property tax rolls have missed $1.2 billion of new construction
A sign advertises for new homes in a development under construction near Highway 93 and Rose Crossing on Wednesday, Nov. 25. (Casey Kreider/Daily Inter Lake)
The Montana Department of Revenue, responsible for maintaining the property listings used to calculate property tax bills, is losing track of hundreds of millions of dollars a year in new construction as it struggles to keep its data updated, according to a study published Thursday by legislative auditors.
The auditors say the department’s approach to tracking new development and property-value-boosting renovations, which relies primarily on reviewing building permits, is failing to ensure that construction activity is quickly and accurately reflected in the tax rolls. That means lower tax bills for people who own newly built or renovated properties, but less money collected for public services and higher bills for other taxpayers.
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