Bill > HB213

This bill revises the property tax rates for Class Four residential and commercial properties in Montana. Specifically, the bill reduces the tax rate for standard residential properties from 1.35% to 0.76% of market value. For high-value residential properties valued over $1.5 million, the tax rate increases to 1.35%. Commercial properties will also have a tax rate of 1.35%, which is a change from the previous calculation method. The bill clarifies that for properties with mixed residential and commercial uses, the classification will be determined by the highest percentage of total value, with improvements apportioned according to their specific use. Golf courses with at least nine holes will continue to receive a tax rate at half the commercial property rate. The bill is effective immediately upon passage and applies retroactively to tax years beginning after December 31, 2024, and to the reappraisal cycle starting January 1, 2025. These changes aim to adjust property tax rates for different types of properties, potentially providing tax relief for standard residential properties while maintaining a higher rate for high-value and commercial properties.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC3292