Bill > HB20

This bill modifies how local government levies (property tax assessments) are calculated and presented to voters, primarily changing the method of expressing tax levies from mills (a unit of taxation where one mill equals $1 of tax per $1,000 of assessed property value) to dollars. Specifically, the bill allows most voted levies (except school district levies) to be subject to calculation provisions that limit annual tax increases based on inflation, and requires ballot language to clearly state the potential tax impact in actual dollar amounts for properties of different values. The bill amends existing laws to clarify that when voters approve a levy, they can specify either the specific amount of money to be raised or the number of mills, but with a preference towards expressing the levy in dollars. This change aims to make property tax proposals more transparent and understandable to voters by showing the direct financial impact on homeowners. Additionally, the bill repeals a previous section of law related to mill levy authorization, streamlining the tax levy process for local governments. The modifications apply to various governmental entities like counties, cities, towns, and other taxing districts, with special considerations to ensure that newly taxable properties and potential changes in property values are appropriately accounted for in levy calculations.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/20251/LC0088