Montana SB542: Generally revise property tax laws

What the bill says

An act generally revising 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; reducing class three agricultural property tax rates; revising class four residential and commercial property tax rates; 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 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; REDUCING CLASS THREE AGRICULTURAL PROPERTY TAX RATES; REVISING CLASS FOUR RESIDENTIAL AND COMMERCIAL PROPERTY TAX RATES; 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 A REFUND FOR FAILURE TO CLAIM A HOMESTEAD REDUCED TAX RATE; PROVIDING STATUTORY APPROPRIATIONS; PROVIDING DEFINITIONS; PROVIDING RULEMAKING AUTHORITY; AMENDING SECTIONS 15-1-121, 15-6-133, 15-6-134, 15-7-102, 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-30-2120, AND 17-7-502, MCA; AND PROVIDING EFFECTIVE DATES, APPLICABILITY DATES, AND TERMINATION DATES. Section 1. Definitions. As used in [sections 1 through 3], the following definitions apply: (1) "Montana property taxes" means the ad valorem property taxes, special assessments, and other fees imposed on property classified under 15-6-134 that is a single-family dwelling unit, unit of a multipleunit dwelling, trailer, manufactured home, or mobile home and as much of the surrounding land, not exceeding 1 acre, as is reasonably necessary for its use as a dwelling and that were assessed and paid by the taxpayer for tax year 2024. The amount of Montana property taxes assessed and paid is …

Read the full official text

Sponsors

• Galt, Wylie (R, 39) · primary sponsor

Latest actions

1. May 19, 2025: Chapter Number Assigned
2. May 13, 2025: (S) Signed by Governor
3. May 6, 2025: (S) Transmitted to Governor
4. May 6, 2025: (H) Signed by Speaker
5. May 6, 2025: (S) Signed by President
6. May 2, 2025: (S) Returned from Enrolling
7. May 1, 2025: (S) Sent to Enrolling
8. April 30, 2025: (S) 3rd Reading Conference Committee Report Adopted
9. April 30, 2025: (S) Scheduled for 3rd Reading
10. April 30, 2025: (S) 3rd Reading Conference Committee Report

Votes

• Do Adopt (April 30, 2025): 28 yea, 22 nay, passed
• Do Adopt (April 29, 2025): 29 yea, 21 nay, passed
• Do Not Concur (April 28, 2025): 47 yea, 1 nay, failed
• Do Concur (April 24, 2025): 72 yea, 27 nay, passed
• Do Concur As Amended (April 22, 2025): 80 yea, 20 nay, passed
• Cloture-Sprunger (April 22, 2025): 95 yea, 4 nay, passed

Common questions

What is SB542?

SB542 is a bill in the Montana Legislature (2025 Regular Session): Generally revise property tax laws.

What does SB542 do?

In its own words: An act generally revising 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; reducing class three agricultural property tax rates; revising class four residential and commercial property tax rates; 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…

What is the status of SB542?

Signed into law as of May 19, 2025. Latest action: Chapter Number Assigned (May 19, 2025).

Who sponsored SB542?

Galt, Wylie (R, 39).

Where is the official record for SB542?

On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC0189