The bill amends Section 15-7-111 of the Montana Code Annotated to establish a new requirement for the reappraisal of noncentrally assessed real property, mandating that all real property within classes three, four, and ten be revalued every two years. The previous requirement for annual revaluation of all other property has been retained, but the language has been adjusted to clarify that all centrally assessed property and real property valued with centrally assessed property will follow the revaluation timelines specified in another section of the law.

Additionally, the bill outlines the responsibilities of the Department of Revenue in administering the reappraisal program, including conducting property inspections and adopting a reappraisal plan. It also requires the department to provide taxpayers with information regarding property tax trends and to publish relevant data in local newspapers. The act is effective immediately upon passage and approval, with retroactive applicability to property tax years beginning after December 31, 2024.

Statutes affected:
LC Text: 15-7-111
HB0090_1(1): 15-7-111
HB0090_1(2): 15-7-111
HB0090_1(3): 15-7-111
HB0090_1(4): 15-7-111
HB0090_1(5): 15-7-111
HB0090_1(6): 15-7-111
HB0090_1(7): 15-7-111
HB0090_1: 15-7-111
HB0090_2: 15-7-111
HB0090_X(1): 15-7-111
HB0090_X(10): 15-7-111
HB0090_X(2): 15-7-111
HB0090_X(3): 15-7-111
HB0090_X(4): 15-7-111
HB0090_X(5): 15-7-111
HB0090_X(6): 15-7-111
HB0090_X(7): 15-7-111
HB0090_X(8): 15-7-111
HB0090_X(9): 15-7-111
HB0090_X: 15-7-111