Montana HB213 revises the property tax rate for class four residential and commercial property.

Montana HB213 revises the property tax rate for class four residential and commercial property. It amends the tax rate for class four residential property to 0.76% of market value and introduces a higher rate for residential property exceeding $1.5 million. The bill also adjusts the tax rate for commercial property to 1.35% of market value. This act applies retroactively to tax years beginning after December 31, 2024, and to the reappraisal cycle starting January 1, 2025.

Montana HB213 revises the property tax rate for class four residential and commercial property.

Montana HB213 revises the property tax rate for class four residential and commercial property. It amends the tax rate for class four residential property to 0.76% of market value and introduces a higher rate for residential property exceeding $1.5 million. The bill also adjusts the tax rate for commercial property to 1.35% of market value. This act applies retroactively to tax years beginning after December 31, 2024, and to the reappraisal cycle starting January 1, 2025.