The “Certified Values” are total taxable property values determined by the Department of Revenue for each tax jurisdictions.
The department provides these values to the tax jurisdictions every year on the first Monday in August.
- We provided certified values on Monday, August 6, 2018.
- 2019 certified values will be available August 5, 2019.
The full details of the report, including the certified values of every tax jurisdiction and the statewide totals can be can be found at Property.MT.gov.
The certified values are used to determine the mill levies for each tax district.
Calculating Levies and Property Tax
To calculate the number of mills in each jurisdiction and property tax due, follow the steps below.
This procedure is outlined in 15-10-420, MCA.
Step 1
Calculate Adjusted Property Tax Revenue (APTR)
The current year’s adjusted property tax revenue is equal to the jurisdiction’s previous year’s property tax revenue increased by half of the inflation from the previous three years:
Step 2
Calculate Maximum Mills
Next find the jurisdiction’s maximum mills.
This is 1,000 times the jurisdiction’s Adjusted Property Tax Revenue (APTR) divided by its Certified Taxable Value minus its Newly Taxable Value (Rounded down to the third decimal):
Step 3
Calculate Millage Rates
Find the Millage Rate. This is the total number of mills from all jurisdictions for your property divided by 1,000.
Step 4
Estimate Property Tax
Finally, property owners multiply the Taxable Value by the Millage Rate to find their Property Tax.
This is an estimate of general property taxes. Local governments may also assess special fees and assessments. Property owners should contact their County Treasurer for more information on special assessments or fees.
Example Levies and Property Tax
For this example, we will look at a property with a $2,793 Taxable Value, in one tax jurisdiction with:
- Previous Year’s Property Tax Revenue: $1,000,000
- Three Year Inflation: 2%
- Current Year Certified Taxable Value: $2,000,000
- Newly Taxable Value: $100,000
We will also assume a second tax jurisdiction with 304 mills.
Step 1
Calculate Adjusted Property Tax Revenue (APTR)
Adjusted Property Tax Revenue: $1,010,000
Step 2
Calculate Maximum Mills
Maximum Mills: 531
Step 3
Calculate Millage Rates
Find the Millage Rate. This is the total number of mills from all jurisdictions for the property divided by 1,000.
Millage Rate: 0.835
Step 4
Estimate Property Tax
Property Tax: $2,333