The bill amends Section 15-8-111 of the Montana Code Annotated to revise property tax valuation requirements specifically for agricultural implements and machinery. It establishes that the market value for these items will be determined based on the average wholesale value as indicated in national appraisal guides. Notably, the bill eliminates the previous requirement for the Department of Revenue to prepare a supplemental valuation manual for agricultural implements and machinery that are not listed in an official guide, streamlining the valuation process.

The changes will take effect for tax years beginning after December 31, 2025. This legislative update aims to simplify the appraisal process for agricultural equipment, ensuring that valuations are consistent and based on available national standards, while also reducing the administrative burden on the Department of Revenue.

Statutes affected:
LC Text: 15-8-111
HB0108_1(1): 15-8-111
HB0108_1(2): 15-8-111
HB0108_1(3): 15-8-111
HB0108_1(4): 15-8-111
HB0108_1(5): 15-8-111
HB0108_1(6): 15-8-111
HB0108_1(7): 15-8-111
HB0108_1(8): 15-8-111
HB0108_1(9): 15-8-111
HB0108_1: 15-8-111
HB0108_2(1): 15-8-111
HB0108_2: 15-8-111
HB0108_X(1): 15-8-111
HB0108_X(2): 15-8-111
HB0108_X(3): 15-8-111
HB0108_X(4): 15-8-111
HB0108_X(5): 15-8-111
HB0108_X: 15-8-111