A group that has repeatedly sought to advance ballot initiatives that would cap property tax growth on Montana homes said Wednesday that it is taking another run at the idea, proposing a constitutional amendment that could appear on the 2026 ballot if it survives likely legal challenges and qualifies via a signature drive.Bozeman attorney Matt Monfortion, the director of Cap Montana Property Taxes, said in an interview Wednesday that he doesn’t believe property tax proposals circulating in advance of the 2025 Legislature will do enough to provide Montana homeowners with long-term protection.“Property taxes are continuing to skyrocket and that will always be the case because Montana homeowners are not protected from inflation,” Monforton said.READ THE INITIATIVEDownloadThe initiative would require the state to value homes for tax purposes annually, as opposed to the current two-year cycle, and limit the annual growth in assessed value for primary residences that don’t change ownership to 2% a year. When a home is sold, its assessment would generally reset to market value. Under current law, residential properties are assessed by the state department of revenue for tax purposes at the department’s best estimate for their market value. As market values spiked amid the state’s housing crunch in recent years, that translated into higher tax valuations and higher tax bills for most homeowners.The series of tax cap initiatives advanced by Monforton’s group, similar to California’s landmark Prop 13, have broadly sought to shield homeowners from rising taxes. Opponents, including the Montana Federation of Public Employees and the Montana Association of Realtors, have worried the measures would upend the tax system that funds K-12 education, law enforcement and most other local government services. They’ve also worried that having a tax benefit created by long-term residence would discourage homeowners from upgrading to new homes.The proposal follows 2022’s Constitutional Amendment 121, which failed to clear a ballot collection threshold after it faced litigation and a $300,000 opposition campaign. Another push last year by Monforton’s group died in the courts after Attorney General Austin Knudsen and the Montana Supreme Court declared that the 2024 iteration of the proposal included too many provisions to comply with the state’s single-subject rule. RELATED The initiative that could upend Montana’s tax system CI-121, inspired by California’s Prop 13 tax revolt, would cap residential property tax growth in the name of keeping Montanans from being priced out of their homes. The fiscal consequences could ripple across the state for generations. by Eric Dietrich 02.11.202206.30.2022 Monforton said that the new iteration of his group’s initiative has been revised to account for last year’s court ruling, focusing only on capping tax valuations rather than both valuations and tax rates. He’s optimistic that the new proposal will withstand inevitable legal scrutiny.“We anticipate a blizzard of lawsuits from the state and special interests who will try to prevent homeowners from getting real relief,” he said. “And we’re confident we’ll prevail in the courts.” LATEST STORIES Trends and policy the focus of MSU agricultural economics conference  The conference, part of MSU’s Celebrate Agriculture Week, has been held for 18 years and provides an opportunity to discuss agricultural trends and policy ideas relevant to Montana. Twelve presenters, most of them MSU economics professors, delivered lectures and presented their research. by Isabel Hicks 11.12.202411.12.2024 Regier, Ler elected to lead 2025 Montana Legislature The GOP holds the majorities in both chambers for the eighth-straight session of the biennial Legislature. Republicans chose Senator- elect Matt Regier, R-Kalispell, as Senate president and Rep. Brandon Ler, R-Savage, as speaker of the House in caucuses Tuesday. Democrats chose Sen. Pat Flowers, D-Belgrade, and Rep. Katie Sullivan, D-Missoula, as minority leaders of their… by Tom Lutey 11.12.202411.12.2024 A testament to Helena’s history: Cathedral and its iconic spires undergo restoration After 18 months of renovation to the Cathedral of St. Helena, residents can now see the regilded and reroofed iconic towers — a testament to the city’s history and religious community. by JoVonne Wagner 11.11.202411.11.2024 The post Group takes another run at initiative to cap Montana property taxes appeared first on Montana Free Press.