Senate Bill 542 revises property tax laws in Montana, introducing a property tax rebate for principal residences based on the amount of property taxes paid in 2024, with a maximum rebate of $400 or the total taxes paid, whichever is less. The bill also reduces tax rates for class three agricultural properties and revises rates for class four residential and commercial properties, particularly benefiting owner-occupied residences and long-term rentals. It establishes eligibility criteria, application requirements, and an appeal process for denied claims, while also amending several sections of the Montana Code Annotated (MCA) to allow local governments to adjust their levies without raising taxes on residential properties.

Additionally, the bill mandates annual reapplication for reduced tax rates on rental properties, introduces penalties for fraudulent applications, and outlines the process for appealing denied applications. It enhances notification processes for property tax assessments and tax liens, ensuring taxpayers receive detailed information about their obligations and available assistance programs. The legislation also freezes property values for tax purposes for the years 2025 and 2026, introduces statutory appropriations for refunds, and clarifies definitions related to property tax rebates and reduced tax rates. Overall, the bill aims to provide tax relief to residential taxpayers while maintaining local government 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