All Eyes on the 2025 Legislature to Solve Property Tax Problems

Missoula, MT (KGVO-AM News) - All eyes will be set firmly on the upcoming 2025 Montana Legislature to help address and perhaps solve the thorny and complicated issue of property taxes in the state.

Governor Gianforte held a status meeting with members of the Statewide Property Tax Task Force at the state capitol on Wednesday, where he praised the work the task force has already done.

The 2025 Legislature is Expected to Help Solve the Property Tax Problem

“Your recommendations from this task force provided us a roadmap and working together with the legislature to implement many of those things at the 2023 session, leading to what many have called a very successful housing amendment,” began Gianforte. “One national publication called it the ‘Montana Miracle’, which you know, I think should all wear with pride, but there's still more work to be done.”

One measure of success Gianforte mentioned was the falling rent price in all places in Missoula.

Gianforte said One Positive Note Was Falling Rent Prices in Missoula

“In Missoula, where, according to recent data, the median rental price has dropped year over year by $433 and that's a 24% reduction in the average rental price for an apartment in Missoula,” he said. “You can take pride in that and that's a good result for the efforts.”

Todd O’Haire, CEO of the Montana Chamber of Commerce, said he is deeply concerned about the cost of housing in Montana, which may keep new businesses from locating in the state.

“It's become an issue that's not only a headwind for businesses that are looking to Montana to relocate; for businesses that are trying to expand, but also for existing businesses that are already established. It's really a headwind for them to be able to retain their existing talent.”

READ MORE: Key Goals Outlined by Governor to Reduce Montana Property Taxes

Another Thorny Issue is Rising Costs of Hazard Insurance in Montana

Another issue brought forward by builder and developer Don Sterhan was that of the exploding costs of home insurance in the state.

“In the last year, insurance costs virtually doubled on a lot of the multifamily housing projects,” said Sterhan. “That's a huge impact. I mean, the margins are thin anyway. There's not a lot of cash flow being generated on low-income or workforce moderate-income housing. So when your insurance costs double, that's a problem.”

All who spoke at Wednesday’s meeting said they are expecting real solutions to come out of the upcoming 2025 legislative session.

State Senator Ellie Boldman of Missoula appeared on the ZOOM call to specifically thank Governor Gianforte and the task force for their hard work.