Sticker Shock of Three New Taxes Coming To Bozeman Residents
Bozeman City Commissioner Jeff Krauss joined Tom and Shane on the KMMS Morning Soapbox and one of the topics was three new taxes that will be showing up in coming months.
Listen to this informative interview below.
The first new tax will be the addition of the new high school to your property tax bill. Most residents are prepared for this one and as the school gets closer to completion look for a property tax increase for that project.
The second proposed tax is for parks. The city insists on parkland in every new subdivision but finally the cost of maintaining these many parks much be addressed.
Jeff outlines some of the possibilities of where and how this city commission tax might be assessed.
Finally, the Bozeman Safety Building will also be in the future mix. That will probably not show up until late 2020 as the city starts borrowing for that project.
A final question from our text line, “Do “TIF” districts pay school tax. According to Jeff they do — he explains how.
Tax increment financing (TIF) is a public financing method that is used as a subsidy for redevelopment, infrastructure, and other community-improvement projects.