Understanding Your County Property Taxes

Below are definitions of common words you'll hear when staff talk about calculating your property taxes. Read a full explanation of what property taxes are comprised of and how they're determined at http://missoula.co/taxes.

• Assessed value is estimated by the Montana Department of Revenue. Every two years, the Montana Department of Revenue completes an appraisal of all properties in Montana’s 56 counties. This appraisal sets what the state uses as the market value of your home or property for the calculation of the taxable value.
• Taxable value is based on laws the Montana Legislature passes. The Montana Department of Revenue calculates each property’s taxable value based on exemptions and limitations in laws enacted by the Montana Legislature. The taxable value for your property is listed on your appraisal notice from the Montana Department of Revenue. All residential homes are taxed at 1.35% of the property’s assessed value.
• County mill rate is set by Missoula County voters and the county commissioners. Missoula County voters have approved spending measures for County services such as weed management, search and rescue teams and parks and trails. All these items are reflected in the number of mills the County will levy. After more than 100 hours of presentations and deliberations, Missoula County commissioners finalize the county budget and the mills required to support other necessary county services.