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Board hears update on recertified taxable values; district says correction will slightly raise mills
Summary
Mr. Waterman told trustees a Department of Revenue correction to prior valuations and condo reassessments led to recalculated taxable values; the district expects a net 3.39‑mill increase (about $4.60 per $100,000 of home value, or roughly $4/month per $100,000). County will finalize mills and tax bills will mail Nov. 12.
At its Oct. 14 meeting the Bozeman School District received a detailed update from Mr. Waterman on a Department of Revenue recertification that changed this year's taxable values and the district's resulting mill rates.
Waterman explained the state discovered errors and a backlog of protest adjustments and condo valuation problems after originally delivering values earlier in August; corrected values arrived Sept. 27. He said the change reduced the district's taxable base, which — combined with an increase in levy revenue — produced a net increase in district mills from 139.72 to 143.11 (a net rise of 3.39 mills, about 2.4%).
"When everything is boiled down, it's a $4.60 per $100,000 worth of home value increase," Waterman said, noting that translates to roughly $4 per month per $100,000 of home value. He told the board the county commission was scheduled to finalize mills the next day and tax bills would be mailed Nov. 12.
Waterman characterized the adjustment as a correction to overstatements from the previous reappraisal cycle and credited cooperation with the Department of Revenue for reducing what could have been a larger mill increase. Trustees asked about the durability of the corrections, how newly taxable property was counted, and whether more adjustments might follow; Waterman said further corrections are possible but the county process and an upcoming reappraisal year make immediate changes unlikely.
The board received the report; no board action was required. Waterman said the district will continue to monitor Department of Revenue updates and the county's finalization of mills.
