Montana legislation · 2025 Regular Session
Montana HB412: Provide exemption for certain modifications to residential property
Status: Chaptered, May 20, 2025
What the bill says
A bill for an act entitled: "an act providing for an exemption for certain modifications to class four residential property; providing that the exemption is the lesser of the amount by which the modification increases the market value or 15% of the market value in the prior year; and providing an applicability date.".
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT PROVIDING FOR AN EXEMPTION FOR CERTAIN MODIFICATIONS TO CLASS FOUR RESIDENTIAL PROPERTY; PROVIDING THAT THE EXEMPTION IS THE LESSER OF THE AMOUNT BY WHICH THE MODIFICATION INCREASES THE MARKET VALUE OR 15% OF THE MARKET VALUE IN THE PRIOR YEAR; AND PROVIDING AN APPLICABILITY DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: NEW SECTION. Section 1. Exemption for modifications to residential property. (1) There is an exemption for modifying class four residential property to add living space to an existing residential structure as provided in this section. A modification may include increasing the finished area of a building or altering the structure or form of an existing space. (2) (a) Except as provided in subsections (2)(b) through (2)(d), the exemption in each year is equal to the lesser of the amount by which the modification increases the market value of the property in the year in which the market value first includes the modification or 15% of the market value in the year before the modification is included in the market value of the property. (b) An exemption is not allowed for a modification made within 3 years of construction of a new class four residential property. (c) Only one exemption for modification may be granted within a …
Sponsors
- Gillette, Jane (R, 77) · primary sponsor
Latest actions
- : (H) Died in Process
- : Chapter Number Assigned
- : (H) Signed by Governor
- : (H) Transmitted to Governor
- : (S) Signed by President
- : (H) Signed by Speaker
- : (H) Returned from Enrolling
- : (H) Sent to Enrolling
- : (S) 3rd Reading Concurred
- : (S) Scheduled for 3rd Reading
Subjects: Taxation, Revenue, State, Revenue, Local, Taxation--Property
Common questions
- What is HB412?
- HB412 is a bill in the Montana Legislature (2025 Regular Session): Provide exemption for certain modifications to residential property.
- What does HB412 do?
- In its own words: A bill for an act entitled: "an act providing for an exemption for certain modifications to class four residential property; providing that the exemption is the lesser of the amount by which the modification increases the market value or 15% of the market value in the prior year; and providing an applicability date.".
- What is the status of HB412?
- Chaptered as of May 20, 2025. Latest action: (H) Died in Process (May 20, 2025).
- Who sponsored HB412?
- Gillette, Jane (R, 77).
- Where is the official record for HB412?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC1380
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.