Montana legislation · 2025 Regular Session
Montana HB231: Revise property tax rates for certain property
Status: Signed into law, May 19, 2025
What the bill says
An act generally revising property tax laws; providing for a property tax rebate on a principal residence based on a certain amount of property taxes paid for tax year 2024; temporarily reducing class four residential property tax rates; revising tax rates for certain class four residential and commercial property; providing a lower tax rate for certain owner-occupied residential property and long-term rentals; providing a lower tax rate for a portion of commercial property value; providing eligibility and application requirements; providing for an appeal process…
From the engrossed text:
AN ACT GENERALLY REVISING PROPERTY TAX LAWS; PROVIDING FOR A PROPERTY TAX REBATE ON A PRINCIPAL RESIDENCE BASED ON A CERTAIN AMOUNT OF PROPERTY TAXES PAID FOR TAX YEAR 2024; TEMPORARILY REDUCING CLASS FOUR RESIDENTIAL PROPERTY TAX RATES; REVISING TAX RATES FOR CERTAIN CLASS FOUR RESIDENTIAL AND COMMERCIAL PROPERTY; PROVIDING A LOWER TAX RATE FOR CERTAIN OWNER-OCCUPIED RESIDENTIAL PROPERTY AND LONG-TERM RENTALS; PROVIDING A LOWER TAX RATE FOR A PORTION OF COMMERCIAL PROPERTY VALUE; PROVIDING ELIGIBILITY AND APPLICATION REQUIREMENTS; PROVIDING FOR AN APPEAL PROCESS; PROVIDING FOR THE ADJUSTMENT OF CERTAIN LOCAL GOVERNMENT FIXED MILL LEVIES; PROVIDING APPROPRIATIONS; PROVIDING DEFINITIONS; PROVIDING RULEMAKING AUTHORITY; AMENDING SECTIONS 15-1-121, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17125, AND 15-30-2120, MCA; AND PROVIDING EFFECTIVE DATES, APPLICABILITY DATES, AND TERMINATION DATES. Section 1. Definitions. As used in [sections 1 through 6] and 15-6-134, the following definitions apply: (1) "Homestead reduced tax rate" means the tax rate provided for in 15-6-134(3)(b)(i). (2) "Long-term rental" means class four residential property: (a) that is a single-family dwelling unit, unit of a multiple-unit dwelling, trailer, manufactured home, or mobile home and the parcel on which the long-term rental improvements are located but not including any contiguous or adjacent parcels; (b) that an owner can demonstrate was: (i) rented for periods of 28 days or more for at least 7 months in …