Posted: Dec 27, 2012 3:35 PM
Updated: Dec 27, 2012 3:58 PM
HELENA - The Montana Department of Revenue released its 2010-2012 Biennial Report today.
The 322-page document provides an overview of the taxes the department has collected and distributed between July 1, 2010 and June 30, 2012.
Highlights in the report include an increase in wage withholding taxes of more than six percent, indicating incomes are on the rise in Montana and an increase in property taxes showing that statewide housing prices have returned to nearly 100 percent of 2008, pre-recession reappraisal levels.
The report covers all of the taxes that the Department of Revenue collects and distributes.
As the report shows, the taxes that the Department of Revenue collects and distributes across the state are distributed in the following way:
• 32.6% of all revenue allocated to education
• 29.5% to public safety, welfare and health
• 20.7% to natural resources and infrastructure
• 14.3% to administrative, legislative and judicial costs
• 2.8% to interest on debt
Click here to see an only copy of the 2010-2012 report and to view previous reports.