About our taxes
Montana taxes are consistent with most state tax bases in the West.
Property Taxes—Business real property (land, buildings, etc.) and business equipment are subject to an ad-valorem tax in the State of Montana. All non-exempt property is taxed based on its full market value. Different classes of property are subject to different assessment rates. Prior to any tax incentives, real property (land and buildings) in the City and County of Butte-Silver Bow is currently taxed at 1.54% of its market value annually.
Business equipment taxes have been declining in recent years because of actions of the Legislature. In 1995, the Legislature enacted a law which results in a continued decline in business equipment proper-ty taxes. In 1999, this legislative action has resulted in a decrease in business equipment taxes to 2.39% of the market value annually, prior to the application of any tax incentives.
Business inventories, goods-in-transit, intangible assets and free port merchandise are statutorily exempt from property taxation. In addition, business equipment belonging to qualified research and development companies may be taxed at approximately 1% of market value in perpetuity.
Income Taxes—Montana's individual income tax is the state's largest source of state revenue. It is collected at rates ranging from 2% to 11% of taxable income. It is important to note that Montana allows for the full deduction of federal income tax liability prior to computing state taxable income, reducing the top rate from 11% to an effective rate of approximately 7.15%. The average Montana citizen pays ap-proximately 3.25%. In calculating taxable income, the personal exemption, standard deduction, and tax brackets are adjusted annually in response to inflation.
Sales Taxes—The State of Montana and the City and County of Butte-Silver Bow do not levy any gen-eral sales or use taxes.
Please visit these websites for additional information:
www.revenue.mt.gov
www.buttemontana.org/taxstructure.htm#individualtax
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PRIVACY I MEMBER AGENTS I CONTACT
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Shea Realtors, PLLC®
1900 Harrison Avenue
Butte, MT 59701
PH: 406-723-5455
FAX: 406-782-8600
gary@shearealtors.com
www.shearealtors.com |
Shea REALTORS® is an Independently Owned & Operated Montana Company. An Equal Opportunity Broker.
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