This bill mandates that the Revenue Interim Committee make a recommendation to the legislature regarding potential revisions to property tax rates, specifically based on the taxable value neutrality report. The bill amends Section 5-5-227 of the Montana Code Annotated (MCA) to include a new requirement for the committee to evaluate the impact of tax rates on property taxes and to consider the maximum levy authorized under existing law. Additionally, it specifies that the committee's recommendation should be informed by the report provided in Section 15-7-111.

Furthermore, the bill amends Section 15-7-111, which outlines the periodic reappraisal of certain taxable properties. It emphasizes that the Revenue Interim Committee will receive a report during the second year of each reappraisal cycle, detailing tax rates that will ensure taxable value neutrality for each property class. This report will serve as a basis for the committee's recommendation to the legislature on whether to adjust property tax rates accordingly.

Statutes affected:
LC Text: 5-5-227, 15-7-111
SB0237_1(1): 5-5-227, 15-7-111
SB0237_1(2): 5-5-227, 15-7-111
SB0237_1(3): 5-5-227, 15-7-111
SB0237_1(4): 5-5-227, 15-7-111
SB0237_1(5): 5-5-227, 15-7-111
SB0237_1(6): 5-5-227, 15-7-111
SB0237_1: 5-5-227, 15-7-111
SB0237_2(1): 5-5-227, 15-7-111
SB0237_2(2): 5-5-227, 15-7-111
SB0237_2(3): 5-5-227, 15-7-111
SB0237_2(4): 5-5-227, 15-7-111
SB0237_2(5): 5-5-227, 15-7-111
SB0237_2(6): 5-5-227, 15-7-111
SB0237_2(7): 5-5-227, 15-7-111
SB0237_2(8): 5-5-227, 15-7-111
SB0237_2(9): 5-5-227, 15-7-111
SB0237_2: 5-5-227, 15-7-111
SB0237_X(1): 5-5-227, 15-7-111
SB0237_X(10): 5-5-227, 15-7-111
SB0237_X(2): 5-5-227, 15-7-111
SB0237_X(3): 5-5-227, 15-7-111
SB0237_X(4): 5-5-227, 15-7-111
SB0237_X(5): 5-5-227, 15-7-111
SB0237_X(6): 5-5-227, 15-7-111
SB0237_X(7): 5-5-227, 15-7-111
SB0237_X(8): 5-5-227, 15-7-111
SB0237_X(9): 5-5-227, 15-7-111
SB0237_X: 5-5-227, 15-7-111