Today, Governor Brian Schweitzer announced that as Governor, he has cut $290,727,422 million in taxes since 2005, more than any Governor in state history.
"Montana is one of only a few states that has money in the bank. In fact, we have been able to give over $290 million back to homeowners and businesses to help create good paying jobs," said Governor Brian Schweitzer.
Cuts Schweitzer has proposed and signed include the largest homeowner tax cut in history, several reductions in the business equipment tax, energy efficiency and development incentives for job creation throughout Montana.
Governor Schweitzer also stopped tax increases from becoming law through the use of his veto powers. Among them include a tax increase on job creators (SB253, 2011) and an increase in worker's compensation premiums charged on Montana small businesses (HB604, 2011). Schweitzer stopped over $45,644,908 in tax increases passed by the 2011 legislature.
"In addition, our historic investment in K-12 education has prevented property tax mill increases on homeowners and businesses, keeping more money in the pockets of Montanans," said Schweitzer.
With historic investments in K-12 education, Schweitzer ended previous administrations' practice of relying on local property taxpayers to fund their schools. In FY2006, districts ran 30,645.04 mills while this fiscal year districts are levying 27,863.02 for a decrease of more than $30 million statewide. Some examples include:
* $163 per year reduction on $150,000 home in Laurel
* $94 per year on a $150,000 home in Great Falls
* $141 per year on a $150,000 home in Belgrade
Montana is currently one of only a few states in the black with a more than $426 million surplus. Over the last decade state gross product has increased by 65% to a total of $37.2 billion while state employee growth has been about 2.3%. (chart attached)