Bill > SB32

This bill generally revises property tax laws in Montana by making several key changes across multiple property tax classifications. The bill adjusts tax rates for various property classes, including metal mines, agricultural land, residential and commercial properties, electrical generation facilities, data centers, and green hydrogen facilities, predominantly shifting from existing tax rates to a new standard rate of 1.5% to 1.65% of market value. The bill also modifies local government levy limits to allow governments to levy mills equal to the 2025 mill levy plus an inflation adjustment, which is defined as the difference between the prior year's assessed property taxes adjusted by the inflation rate. For owner-occupied residential properties, the bill introduces a slightly lower tax rate of 1.25%. Additionally, the bill provides specific definitions and provisions for different property types, such as duplexes and owner-occupied residences, and maintains certain existing exemptions and phased tax treatments for specific types of infrastructure like fiber optic cables and energy-related facilities. The changes are set to apply to property tax years beginning after December 31, 2025, providing a clear timeline for implementation.

Budget and Finance, Government Affairs

https://bills.legmt.gov/#/laws/bill/20251/LC0072