This bill amends Section 15-7-111 of the Montana Code Annotated to establish a reappraisal cycle for noncentrally assessed real property, mandating that all real property within class three, class four, and class ten be revalued every two years. The bill specifies that, except for centrally assessed property, all other property must continue to be revalued annually. Additionally, it clarifies that centrally assessed property and real property valued with centrally assessed property will follow the revaluation time periods outlined in another section of the law.

The bill also outlines the responsibilities of the Department of Revenue in administering the reappraisal program, including conducting property inspections and adopting a reappraisal plan. It 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