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Committee receives in‑depth training on property‑tax mechanics, valuation and data tools
Summary
Department of Revenue and Legislative Fiscal Division staff briefed the committee on property‑tax basics, valuation approaches, mill‑levy mechanics (including 95‑mill equalization), the 15‑10‑4‑20 calculation, carryover rules, property‑tax assistance programs, and interactive data dashboards for county and class analysis.
Megan Moore of the Department of Revenue and Curt (Kurt) Swimley of the Legislative Fiscal Division delivered a multi‑part training for the House Taxation Committee covering property‑tax fundamentals and data tools.
Moore began with the basic property‑tax equation and valuation responsibilities (market value → taxable value → mills ÷ 1,000 = taxes due), and reviewed the three approaches to value (sales comparison, cost, income). She described property tax classes and statutory tax rates (residential typically taxed at 1.35%; special statutory treatments for high‑value residences, agricultural/forest treatment, and business equipment). Moore noted…
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