House Bill No. [insert bill number] proposes revisions to the tax rate for agricultural property owned by certain nonprofit corporations in Montana. The bill amends several sections of the Montana Code Annotated (MCA), specifically Sections 15-6-133, 15-6-134, 15-6-229, and 15-18-219. Notably, it introduces a new provision that exempts agricultural land acquired after the effective date of the act and owned by specific nonprofit organizations, such as churches, schools, hospitals, and organizations providing low-income housing, from the standard tax rate applicable to agricultural land. The taxable value for this land will be calculated at ten times the taxable percentage rate for agricultural land, which is a change from the previous calculation method.

Additionally, the bill clarifies the classification and taxation of various property types, including residential and commercial properties, and outlines the application process for tax deeds related to residential properties. It also specifies that the tax rate for class three property, which includes agricultural land, will be set at 2.16% of its productive capacity value, while the taxable value for nonqualified agricultural land will be based on its average productive capacity value. The bill is set to take effect immediately upon passage and approval.

Statutes affected:
LC Text: 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1(1): 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1(2): 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1(3): 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1(4): 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1(5): 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1: 15-6-133, 15-6-134, 15-6-229, 15-18-219