Just what will proposed $350K mill levy cost homeowners?

When Libby School District 4 Board members on Monday agreed to put a resolution on their next agenda for a $350,000 mill-levy request, they inquired as to what the cost would be for homeowners.

Lincoln County Treasurer Nancy Trotter Higgins provided board members with costs for properties with a taxable market value ranging from $50,000 to $350,000.

However, Higgins said taxable market value differs greatly from appraised values or what a home is worth.

Taxable market values reflect credits and generally are less than the appraised values.

So, The Western News went to Bonnie Drews of the local Department of Revenue office to establish the difference in the taxable market values and appraisal values.

Drews cautioned, however, that properties are reassessed every six years and, depending where a home is in that process, the amount could differ.

Current taxable market values are about half of appraised values. As evident from the graphic at right, taxable market values decline slightly below 50 percent for the more expensive, higher-end homes.

District officials are expected to vote Monday as to whether to proceed with a mill-levy request.