The bill mandates that the Department of Revenue notify counties when the preliminary market value of any property decreases by more than $1.5 million since the last reappraisal. This notification must be sent electronically and will also include a copy to each municipality within the county. The notice must be dispatched no later than when the original or revised classification and appraisal notice is sent to the property owner, and it should provide both the prior and preliminary market values. Additionally, the Department is required to meet with the county upon request and provide any public information used to establish the preliminary market value.

Furthermore, for properties subject to central assessment, the notification will occur after the apportionment process is completed. The bill explicitly states that these provisions do not apply to class four residential properties. The act will take effect for property tax years beginning on or after January 1, 2026, and is intended to be codified as part of Title 15, chapter 7, part 1 of the Montana Code.