Thousands of people who own luxury homes in Montana are benefiting from tax breaks for agricultural producers, according to a new study from the Montana Free Press and High Country News. did.
The decades-old policy reduces property taxes for people with large parcels of land or who collect more than $1,500 a year in farm income. Eric Dietrich, deputy editor of the Montana Free Press, found that two homes of similar size and value could pay vastly different amounts in property taxes depending on whether they qualify as agricultural land. I discovered it.
“We looked at a lot of situations like this, especially involving million-dollar homes, high-value real estate. And in those situations, because of (agricultural) status, people make a lot of money a year. It’s common to pay less for a thousand dollars,” Dietrich said.
Gov. Greg Gianforte is among those who pay less in taxes on the land beneath their homes than most Montanans. The Montana Free Press revealed that the governor’s 11-acre property in Gallatin County will have a lower land tax burden in 2023 than 97% of homes in cities and towns across the state.
Dietrich said lawmakers are likely to discuss tightening the rules on who qualifies for tax breaks this year.
