Montana HB844 revises the taxation of class eight business equipment, exempts certain equipment from taxation, and provides reimbursements to local.

Montana HB844 revises the taxation of class eight business equipment, including agricultural implements, mining machinery, and manufacturing machinery. The bill exempts the first $1.75 million of market value of class eight property from taxation and exempts equipment with a cost of less than $250. It also provides for annual inflation adjustments to the exemption amount. The bill mandates that local governments and tax increment financing districts receive reimbursements for lost revenue due to the exemption.

Montana HB844 revises the taxation of class eight business equipment, exempts certain equipment from taxation, and provides reimbursements to local.

Montana HB844 revises the taxation of class eight business equipment, including agricultural implements, mining machinery, and manufacturing machinery. The bill exempts the first $1.75 million of market value of class eight property from taxation and exempts equipment with a cost of less than $250. It also provides for annual inflation adjustments to the exemption amount. The bill mandates that local governments and tax increment financing districts receive reimbursements for lost revenue due to the exemption.