Montana legislation · 2025 Regular Session
Montana HB483: Revise laws to reduce property taxes while preserving the current 95 school equalization mills
Status: Signed into law, May 16, 2025
What the bill says
An act generally revising school funding laws related to property taxes; requiring the office of public instruction and the department of revenue to collaborate and mitigate the impacts of reappraisal on school property taxes; providing that the state and county school equalization mills and vocationaltechnical education mills are fixed amounts; providing that school levies are not subject to section 15-10-420, mca; revising the property tax relief mechanisms within the school equalization and property tax reduction account…
From the engrossed text:
AN ACT GENERALLY REVISING SCHOOL FUNDING LAWS RELATED TO PROPERTY TAXES; REQUIRING THE OFFICE OF PUBLIC INSTRUCTION AND THE DEPARTMENT OF REVENUE TO COLLABORATE AND MITIGATE THE IMPACTS OF REAPPRAISAL ON SCHOOL PROPERTY TAXES; PROVIDING THAT THE STATE AND COUNTY SCHOOL EQUALIZATION MILLS AND VOCATIONALTECHNICAL EDUCATION MILLS ARE FIXED AMOUNTS; PROVIDING THAT SCHOOL LEVIES ARE NOT SUBJECT TO SECTION 15-10-420, MCA; REVISING THE PROPERTY TAX RELIEF MECHANISMS WITHIN THE SCHOOL EQUALIZATION AND PROPERTY TAX REDUCTION ACCOUNT; CONTINGENT ON PROPERTY TAX LEGISLATION ENACTED, INCREASING GUARANTEED TAX BASE MULTIPLIERS FOR FISCAL YEAR 2026 TO PROTECT PROPERTY TAXPAYERS; CONTINGENT ON PROPERTY TAX LEGISLATION ENACTED, LOWERING PROPERTY TAXES BY INCREASING THE ON-SCHEDULE REIMBURSEMENT RATES FOR SCHOOL TRANSPORTATION; REVISING THE STATE-COUNTY SHARE OF ON-SCHEDULE REIMBURSEMENTS FOR SCHOOL TRANSPORTATION; REVISING DEFINITIONS; AMENDING SECTIONS 15-10-420, 20-9-306, 20-9-331, 20-9-333, 20-9-336, 20-9-360, 20-9-366, 20-9-367, 20-9-368, 20-9-404, 20-9-525, 20-9-533, 20-10-141, 20-10-144, 20-10-145, 20-10-146, 20-25-439, AND 90-6403, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE AND AN APPLICABILITY DATE. Section 1. Section 15-10-420, MCA, is amended to read: "15-10-420. Procedure for calculating levy. (1) (a) Subject to the provisions of this section, a governmental entity that is authorized to impose mills may impose a mill levy sufficient to generate the amount of property taxes actually assessed in the prior year plus one-half of the average rate of inflation for the prior 3 …