Originally published in the 8/25/17 print edition of Yellowstone County News.
BILLINGS — The total taxable value of property in Yellowstone County increased 4.6 percent in FY 2016-17.
About half that increase is due to the construction of new property or what might be called the addition of new value to the total of assets in the county.
The balance of the increase in taxable value is the result of revised estimate of the value of existing property.
Only new construction results in increased revenue to county government and other taxing jurisdictions. The taxable value of Newly Taxable Property in FY2017-18 is $8,064,294, compared to $13,971,270 in FY 2016-17.