House Bill No. [insert bill number] proposes revisions to property tax rates, specifically targeting Class Three agricultural property and Class Four residential and commercial property. The bill reduces the tax rate for Class Three property from 2.16% to 1.7% of its productive capacity value and for Class Four residential property from 1.35% to 0.76% of market value. Additionally, the tax rate for commercial property is also reduced to 1.35%. The bill includes a provision that ensures these rate reductions do not decrease school equalization or university revenue by more than $50 million in 2025.

The bill amends several sections of the Montana Code Annotated (MCA), including 15-6-133, 15-6-134, 15-10-109, and 15-10-420, while providing an immediate effective date and retroactive applicability to tax years beginning after December 31, 2024. The amendments also clarify the calculation of mill levies for the university system and establish a framework for determining the maximum number of mills a governmental entity may impose. Overall, the bill aims to lower property tax burdens while maintaining essential funding for education.

Statutes affected:
LC Text: 15-6-133, 15-6-134
HB0528_1(1): 15-6-133, 15-6-134
HB0528_1(2): 15-6-133, 15-6-134
HB0528_1(3): 15-6-133, 15-6-134
HB0528_1(4): 15-6-133, 15-6-134
HB0528_1(5): 15-6-133, 15-6-134
HB0528_1(6): 15-6-133, 15-6-134
HB0528_1: 15-6-133, 15-6-134
HB0528_2(1): 15-6-133, 15-6-134, 15-10-109, 15-10-420
HB0528_2(10): 15-6-133, 15-6-134
HB0528_2(11): 15-6-133, 15-6-134
HB0528_2(2): 15-6-133, 15-6-134, 15-10-109, 15-10-420
HB0528_2(3): 15-6-133, 15-6-134, 15-10-420
HB0528_2(4): 15-6-133, 15-6-134
HB0528_2(5): 15-6-133, 15-6-134
HB0528_2(6): 15-6-133, 15-6-134
HB0528_2(7): 15-6-133, 15-6-134
HB0528_2(8): 15-6-133, 15-6-134
HB0528_2(9): 15-6-133, 15-6-134
HB0528_2: 15-6-133, 15-6-134, 15-10-109, 15-10-420