House Bill No. [insert bill number] seeks to amend Montana's property tax laws by reducing tax rates for various property classes, particularly Class Three agricultural properties and Class Four residential and commercial properties. The bill proposes a decrease in the tax rate for Class Three agricultural properties from 2.16% to 2.05% of their productive capacity value. It also introduces a homestead exemption that exempts the first $50,000 of market value for Class Four residential properties from taxation, with a new tax rate of 1.11% applied to the remaining value. Additionally, the bill reduces the tax rate for Class Ten forest land properties from 0.37% to 0.36% of their forest productivity value for tax years after 2024.

The legislation outlines an appeal process for homestead exemption applications, defines relevant terms, and grants rulemaking authority to the appropriate department. It includes provisions for penalties related to false or fraudulent applications, ensuring that any improperly approved exemptions can be revised. The bill mandates that property taxes, penalties, and interest collected be distributed proportionally to affected taxing jurisdictions and allows property owners to request informal reviews if their applications are denied. The bill is designed to take effect immediately upon passage, with retroactive applicability to tax years 2025 and 2026.

Statutes affected:
LC Text: 15-6-134
HB0155_1(1): 15-6-134
HB0155_1(10): 15-6-134
HB0155_1(11): 15-6-134
HB0155_1(12): 15-6-134
HB0155_1(13): 15-6-134
HB0155_1(14): 15-6-134
HB0155_1(2): 15-6-134
HB0155_1(3): 15-6-134
HB0155_1(4): 15-6-134
HB0155_1(5): 15-6-134
HB0155_1(6): 15-6-134
HB0155_1(7): 15-6-134
HB0155_1(8): 15-6-134
HB0155_1(9): 15-6-134
HB0155_1: 15-6-134
HB0155_2(1): 15-6-134
HB0155_2(10): 15-6-134
HB0155_2(11): 15-6-134
HB0155_2(12): 15-6-134
HB0155_2(13): 15-6-134
HB0155_2(2): 15-6-134
HB0155_2(3): 15-6-134
HB0155_2(4): 15-6-134
HB0155_2(5): 15-6-134
HB0155_2(6): 15-6-134
HB0155_2(7): 15-6-134
HB0155_2(8): 15-6-134
HB0155_2(9): 15-6-134
HB0155_2: 15-6-134
HB0155_3(1): 15-6-134
HB0155_3(10): 15-6-134
HB0155_3(11): 15-6-134
HB0155_3(12): 15-6-134
HB0155_3(2): 15-6-134
HB0155_3(3): 15-6-134
HB0155_3(4): 15-6-134
HB0155_3(5): 15-6-134
HB0155_3(6): 15-6-134
HB0155_3(7): 15-6-134
HB0155_3(8): 15-6-134
HB0155_3(9): 15-6-134
HB0155_3: 15-6-134
HB0155_4(1): 15-6-134
HB0155_4(2): 15-6-134
HB0155_4(3): 15-6-134
HB0155_4(4): 15-6-134
HB0155_4: 15-6-134