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Montana property owners may see historically-high tax hikes

Montana property owners may see historically-high tax hikes
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MT Republicans ironing out final details on tax-cut bonanza


MT Republicans ironing out final details on tax-cut bonanza
Total cuts could be $50 million a year, or more
By:
Mike Dennison
and last updated 2021-04-21 18:38:46-04
HELENA — As the 2021 Legislature nears its end, Republican lawmakers are ironing out the final details on a multimillion-dollar tax-cut bonanza likely to include income- and property-tax cuts.
The centerpiece is a reduction in the state’s top income-tax rate and, eventually, a possible overhaul of the entire income-tax structure, reducing the number of tax brackets to only two and eliminating two-dozen tax credits.
The Republican majority appears ready to pass one bill reducing the top income-tax rate from 6.9 percent to 6.75 percent, starting in 2022 and then a second bill to revamp the system and lower the top rate to 6.5 percent, starting as early as 2023. Both bills are on the House floor Thursday. ....

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