County Taxable Value Up Slightly
Newly taxable property – largely comprised of new construction—amounted to $6,955,867 in Yellowstone County, helping to boost total taxable value in the county to $396,628,206, based upon a total market value of all real property in the county of $21.8 billion. (Taxable value is a modified sum, different than market value.)
The new taxable property compensated for a slight decline in total taxable value this year for the county due mostly to adjustments to centrally assessed properties that resulted in a slight contraction, according to Yellowstone County Finance Director Kevan Bryan.
Bryan compared that to Gallatin County, which grew five times more and “continues to lead the state in valuation.”
Because of the newly taxable property the total taxable value for Yellowstone County increased 1.8 percent, including adjustment for inflation of just over one percent.
Last year, the total taxable value — based on $21.6 billion in market value of property in the county — was $391,347,690.
Given the taxable property value, taxpayers will see a levy of 96.45 mills on their tax bills, up just a bit from 95.18 mills last year. Bryan said that that amounts to an increase of about $1.35 on a $100,000 house.
County revenue will increase about $1 million, which gets disbursed to dozens of department budgets from the General Fund and the Bridge fund to Weed, Seniors, Extension Service, Sheriff’s Department, etc.
Total County Budget is $56 million.