Think Montana Taxes Are High? Not Compared To Other States

Tax season is here. There was a recent study from Study Find that says 1 in 3 Americans don't know when "Tax Day" is for 2023. For those that aren't aware, "Tax Day" for 2023 is Tuesday, April 18th. Normally "Tax Day" falls on April 15th. This year since April 15th falls on a Saturday, the government has extended the tax deadline by a few days.

Montana Tax Already Seems High

If you live in Montana it seems our increase every year, especially property taxes along with the price of housing. In Missoula, the Mayor is seeking help from the legislature on trying to reduce property taxes. Home prices have gone up, but you can still find four bedroom homes in Missoula for $500,000 and under. Tax in Montana seems high, but where does it compare to other states?

Montana Tax Is Lower Than You Might Think

According to Wallet Hub, Montana has one of the lowest tax rates in the United States. According to their research Montana ranks third lowest in tax rates, behind only, Alaska and Delaware. Illinois has the highest tax burden, according to the report. Even though Montana's taxes seem low, compared to the other states, according to Study Find, we also rank eighth in procrastinating to pay our taxes.

Montana Taxes May Be A Reason More People Move Here

Montana is an attractive state for people who are looking to re-locate. Montana was the number one location people moved to during the pandemic. With the release of this report, and If Montana taxes is as low as they say it may even attract more people to move here.