House Bill No. [insert bill number] seeks to amend property tax laws in Montana by reducing tax rates for various property classes, particularly Class Three agricultural properties and Class Four residential and commercial properties. The bill proposes to lower the tax rate for Class Three agricultural properties from 2.16% to 2.05% of their productive capacity value and introduces a homestead exemption that exempts the first $50,000 of market value for Class Four residential properties from taxation. Additionally, it reduces the tax rate for Class Ten forest land from 0.37% to 0.36% and establishes eligibility criteria, application requirements, and an appeal process for the homestead exemption.

The bill amends several sections of the Montana Code Annotated (MCA), including 15-6-133 and 15-6-134, and grants rulemaking authority to the Department regarding the implementation of these changes. It also outlines penalties for false or fraudulent applications, mandates the issuance of revised assessments with penalties for identified fraud, and ensures that property taxes collected are distributed proportionally to affected taxing jurisdictions. The proposed changes are set to take effect immediately, with retroactive applicability to the tax year 2025, aiming to provide tax relief to property owners while ensuring compliance and oversight in the exemption process.

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: 15-6-134