Senate Bill 542 seeks to revise property tax laws in Montana by implementing a property tax rebate for principal residences based on the amount of property taxes paid in the tax year 2024, with a maximum rebate of $400 or the total property taxes paid, whichever is less. The bill also reduces tax rates for class three agricultural properties and modifies tax rates for class four residential and commercial properties, particularly benefiting owner-occupied residences and long-term rentals. Additionally, it introduces eligibility criteria, application requirements, and an appeal process for denied claims, while allowing local governments to adjust their levies to maintain revenue without raising taxes on residential properties.

The legislation further amends various sections of the Montana Code Annotated (MCA) to streamline property tax assessments and enhance communication regarding tax obligations. It establishes specific timelines for taxpayers to file objections to property valuations and modifies procedures for county tax appeal boards. The bill also mandates detailed notifications from county treasurers regarding property tax assessments and the attachment of tax liens, ensuring taxpayers are informed about their tax liabilities and available assistance programs. Overall, the bill aims to alleviate the tax burden on residential property owners while ensuring local governments can sustain their revenue sources.

Statutes affected:
LC Text: 15-7-111
SB0542_1(1): 15-7-111
SB0542_1(2): 15-7-111
SB0542_1(3): 15-7-111
SB0542_1(4): 15-7-111
SB0542_1(5): 15-7-111
SB0542_1(6): 15-7-111
SB0542_1(7): 15-7-111
SB0542_1: 15-7-111
SB0542_2(1): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_2(2): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_2(3): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_2(4): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_2(5): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_2(6): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_2(7): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_2(8): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_2(9): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_2: 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(1): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(10): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(11): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(12): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(2): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(3): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(4): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(5): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(6): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(7): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(8): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3(9): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_3: 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_X(1): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_X(2): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_X(3): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_X(4): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_X(5): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_X(6): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_X(7): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_X(8): 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502
SB0542_X: 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, 17-7-502