Montana’s budget increased cumulatively less than pop+inf in state funds but more than pop+inf in all funds from 2014-23, meaning taxes are lower in state funds but higher in all funds than the average taxpayer can afford.
- The 2023 state funds budget is $184 million higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
- Because the state funds budget grew slower than population growth plus inflation for the last ten years, the state spent and taxed $21.0 million less than possible.
- The 2023 all funds budget is $2.6 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
- Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent and taxed $10.0 billion too much.
State Funds Budget Data
- Estimated FY 2024 Only State Funds Budget ($ Billions): $5.58
- FY 2025 Only State Funds Budget Limit ($ Billions): $5.96
- FY 2025 Only State Funds Budget Limit Growth ($ Billions): 6.74%
- Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $162
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $649
- Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: ($19)
- Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: ($74)
State All Funds Budget Data
- Estimated FY 2024 All Funds Budget ($ Billions): $10.91
- FY 2025 All Funds Budget Limit ($ Billions): $11.65
- FY 2025 All Funds Budget Limit Growth ($ Billions): 6.74%
- Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: 2251.305132
- Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: 9,005
- Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: 8,833
- Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: 35,333
Other Considerations
- Economic Freedom of North America (2021) (Rank): 22 [Fraser Institute]
- Economic Freedom (2022) (Rank): 29 [Cato Institute]
- Fiscal Policy (2022) (Rank): 19 [Cato Institute]
- Regulatory Policy (2022) (Rank): 35 [Cato Institute]
- State Tax Collections Per Capita (FY2021) ($): $3,514 [Tax Foundation]
- State Tax Collections Per Capita (FY2021) (Rank): 27 [Tax Foundation]
- State-Local Total Tax Burden per Capita (2022) ($): $5,795 [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (%): 10.50% [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (Rank): 27 [Tax Foundation]
- Top Income Tax Rate (2024) (%): 5.90% [Tax Foundation]
- Top Income Tax Rate (2024) (Rank): 34 [Tax Foundation]
- Flat/Progressive/Zero Income Tax (2024): P [Tax Foundation]
- Overall State Business Tax Climate Index (2024)(Rank): 5 [Tax Foundation]
- Top Corporate Income Tax Rate (2024) (%): 6.75% [Tax Foundation]
- Top Corporate Income Tax Rate (2024) (Rank): 31 [Tax Foundation]
- State-Local Sales Tax Rate (2024) (%): 0% [Tax Foundation]
- State-Local Sales Tax Rate (2024) (Rank): 1 [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 0.74% [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 34 [Tax Foundation]
- Economic Outlook (2024) (Rank): 30 [American Legislative Exchange Council]
- Economic Performance Rankings, 2012-2022 (2024) (Rank): 14 [American Legislative Exchange Council]
- Tax and Expenditure Limit (0-3): 0 [American Legislative Exchange Council]
- Tax and Expenditure Limit (Rank): 32 [American Legislative Exchange Council]
- Right-to-Work Law (2022) (Y/N): N [American Legislative Exchange Council]
- State-Local Spending per Capita (2022) ($): $12,084 [US Government Spending]
- State-Local Spending per Capita (2022) (Rank): 19 [US Government Spending]
- Official Poverty Rate (2020-22) (%): 10.7 [Census Bureau]
- Official Poverty Rate (2020-22) (Rank): 26 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (%): 8.5 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (Rank): 27 [Census Bureau]
- Labor Force Participation Rate (Dec 2023) (%): 62.70% [Bureau of Labor Statistics]
- Labor Force Participation Rate (Dec 2023) (Rank): 25 [Bureau of Labor Statistics]