Bill > SJ38

This bill is a legislative resolution requesting the Legislative Council to designate an interim committee to conduct a comprehensive study of Montana's property tax system. The study aims to simplify and improve the current property tax structure, which currently has 18 different property classes and complex varying tax rates, valuation methods, and exemptions. Specifically, the committee will examine the tax rates and valuation methods for each property class, review property tax exemptions and their impact on taxable value, analyze settlements between taxpayers and the Department of Revenue, and explore options for consolidating tax classes, equalizing property appraisals, and balancing tax liabilities across different property classifications. The study must be completed before September 15, 2026, and the final results, including findings, conclusions, and recommendations, will be reported to the 70th Legislature. The resolution recognizes that property taxes are a crucial funding source for the state, cities, counties, school districts, and special districts, and seeks to make the tax system more straightforward and equitable.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC1824