Bill > SB512

This bill requires the Montana Department of Revenue to disclose details of property tax settlement negotiations for centrally assessed and industrial properties on its website. Specifically, the bill mandates that when the department reaches a settlement with a taxpayer regarding the assessed value of such properties, it must publicly share both the department's initially proposed valuation and the final agreed-upon valuation. This applies to settlements reached through standard dispute resolution procedures and mediation processes. The bill amends existing statutes to make these settlement agreements public documents, ensuring transparency in how property tax valuations are negotiated between the department and taxpayers. The new disclosure requirements will apply to property tax years beginning after December 31, 2025, giving the department time to implement the new reporting system. The goal appears to be increasing public accountability and providing insight into how property tax assessments are determined, particularly for large industrial and centrally assessed properties.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC0022