HELENA — Voters are filling out their ballots for the Helena primary election, and on them are the proposed bonds for Helena Public Schools (HPS).
MTN wants to give voters a better understanding of what possible increases they could see on their property taxes if the HPS High School Bond Passes.
(Watch to learn more about the impacts if the school bonds pass)
The elementary school bond passing would still increase taxes for property owners, but the changes would not be as significant.
We reached out to the Lewis and Clark County Property Tax Department to learn about the number of properties that fall into specific ranges in the Helena High School District and the potential tax increases owners could see.
According to the county, slightly over 27% of properties in the high school district have an assessed value of $200,000 or less.
Approximately 26% of properties have an assessed value between $200,000 and $400,000.
Nearly 40% of homes have an assessed value of over $400,000 to $800,000.
Slightly over 7% have an assessed value of over $800,000.
The amount by which the bond will increase taxes on a particular home depends on that home's taxable value.
This year, the Montana legislature changed how taxable value is calculated.
It now increases faster on higher-value homes.
A $200,000 home has a taxable value of $1,520, and for every $1,000 of taxable value, the high school bond would raise taxes by about $96 a year.
So, a $200,000 home would pay almost $147 more.
A home worth $400,000 has a taxable value of $3,040 and would pay $294 more a year.
An $800,000 home has a taxable value of $7,440 and would pay another $719 in taxes each year.
As we previously reported, voters must return ballots by September 9th.
