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 entities, such as churches, schools, hospitals, and organizations providing low-income housing, from the standard tax rate. The taxable value for this land will be calculated at ten times the taxable percentage rate for agricultural land, while other agricultural properties will continue to be taxed at 2.16% of their productive capacity value.

Additionally, the bill clarifies the classification of properties and the applicable tax rates for various types of land, including residential and commercial properties. It also outlines the process for applying for tax deeds on residential properties and the necessary notifications required for tax deed applications. The bill aims to provide a more equitable tax structure for agricultural properties owned by nonprofit organizations while ensuring that the tax obligations for other property classifications remain clear and consistent. The act 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