At his news conference this morning, Gov. Greg Gianforte put-forth, what he calls, his “Path to Security & Prosperity” budget for the next biennium. The high-points of the budget proposed to cut income taxes, reduce property taxes for primary homeowners and make investments in public safety and education.
Specifically, he’s proposing a 1% Income Tax reduction and what could amount to a 15% reduction in property taxes in a homestead rate tax for primary homeowners. This, he hopes will provide indirect relief for renters. The business equipment tax exemption from $1-million to $3-million.
Along the way, the Governor is proposing pay increases for Montana Highway Patrol troopers and public school teachers.
In the Governor’s budget proposal, $10-million to repair 500-bridges, $100-million for local disaster relief and $300-million to plus-up the State’s retirement fund.
All this goes before the 69th Montana Legislature, beginning Monday, January 6th.
