House Bill No. [insert bill number] proposes revisions to the appraisal of property for tax purposes in Montana, specifically by implementing an average value approach. The bill amends Section 15-8-111 of the Montana Code Annotated (MCA) to clarify that all taxable property must be appraised at 100% of its market value, with the market value defined as the average for the year containing the general assessment day and the prior nine years, excluding the lowest and highest yearly data. Additionally, the bill introduces new provisions for the assessment of newly constructed, remodeled, or reclassified properties, which must be assessed at 100% of market value for the first year after such changes, and subsequently at the average value for the number of years since the change until the tenth year.

Furthermore, the bill amends Section 15-23-205, which pertains to the assessment of railroad transportation properties, to align with the new appraisal standards. The applicability of these changes is set to begin with the reappraisal cycle starting January 1, 2027. The revisions aim to create a more standardized and equitable approach to property valuation for tax purposes, ensuring that assessments reflect a fair market value based on historical data while also accommodating specific circumstances for different property types.

Statutes affected:
LC Text: 15-8-111, 15-23-205
HB0894_1(1): 15-8-111, 15-23-205
HB0894_1(10): 15-8-111, 15-23-205
HB0894_1(11): 15-8-111, 15-23-205
HB0894_1(12): 15-8-111, 15-23-205
HB0894_1(2): 15-8-111, 15-23-205
HB0894_1(3): 15-8-111, 15-23-205
HB0894_1(4): 15-8-111, 15-23-205
HB0894_1(5): 15-8-111, 15-23-205
HB0894_1(6): 15-8-111, 15-23-205
HB0894_1(7): 15-8-111, 15-23-205
HB0894_1(8): 15-8-111, 15-23-205
HB0894_1(9): 15-8-111, 15-23-205
HB0894_1: 15-8-111, 15-23-205
HB0894_2(1): 15-8-111, 15-23-205
HB0894_2(2): 15-8-111, 15-23-205
HB0894_2(3): 15-8-111, 15-23-205
HB0894_2(4): 15-8-111, 15-23-205
HB0894_2(5): 15-8-111, 15-23-205
HB0894_2(6): 15-8-111, 15-23-205
HB0894_2(7): 15-8-111, 15-23-205
HB0894_2: 15-8-111, 15-23-205