People face having to sell their homes due to rising property taxes. They’ll make quite a profit when they sell but no one really wants to do that.

CA had the same problem before Prop 13 went in to effect. Might be time for something like it in MT.

Property Taxes in Montana.

Yikes, what a mess!!

Now that we are home owners again, property taxes will of course be on my radar. My assessment of our new neighborhood is that it's relatively stable (i.e., I don't anticipate any huge jumps in value like that), but never say never!

Prop 13 made me very reluctant to buy in California. It essentially means that new purchasers disproportionately bear the tax burden.

Ultimately, I did buy, but it was a unique and unforeseeable opportunity that pretty much came (in my judgment) with built-in profit.

quote:

It essentially means that new purchasers disproportionately bear the tax burden.

True, the difference being the buyer chooses to pay the tax as opposed to having their existing tax raised without recourse.

And it’s only 1% of purchase price, not 2% or 3% like some places.

We are living this. (Saw the article when it came out.) People are truly up in arms. We just had a vote on a new bond for the county's public schools and it was defeated for the very first time in history.

I am really hoping this tax revolt will result in unseating Giantfarte the governor this next election. He's been selling Montana off to the highest bidder.

We did get a tax rebate, but that only reduces the pain the first year. Our property taxes are up $1,000 a year. I forget what the percentage is, but it is high. Some people are paying 60 percent more.

The same thing happened in and around Santa Fe and Taos. In that particular case, people (particularly celebrities like P*D) were moving in and driving up the cost of housing, and taxes reflected that. There were situations where people had been living in housing in Santa Fe for multiple generations, owned the properties outright, but weren't able to pay their taxes and had to sell. And then the Santa Fe trendy bubble burst....

In our six years owning in Santa Fe (thanks, Nina ), our taxes have gone up tad, but not too much. In fact, they're lower now than in 2020.

When we bought, I noticed that our taxes were higher then most of our neighbors who had more expensive properties. I guessed it was the resale effect. I protested the increase to no avail, using one of those firms that takes money only if you win the appeal. Since then, my taxes have been stable to declining. I wonder if my use of the outside firm made them cautious about raising our assessment. Who knows.

new mexico has some of the lowest property taxes in the country.