HB461

Montana HB461 provides a property tax exemption for certain owner-occupied residential properties owned by persons 67 or older.

Montana HB461 offers a property tax exemption for residential properties owned and occupied by individuals aged 67 or older, provided the property has been the owner's primary residence for at least five years. The exemption applies to the difference between the property's market value in the tax year and its base year value. The exemption terminates if the property undergoes new construction, remodeling, or reclassification. Owners can reapply for the exemption if they meet the criteria. The exemption applies to property tax years beginning after December 31, 2025.