Montana HB865 revises property tax limitations, allowing local governments to exceed certain mill levy limits with voter approval.

Montana HB865 revises property tax limitations by allowing local governments to exceed certain mill levy limits with voter approval. The bill specifies conditions under which local governments can impose additional mill levies, including the need for a resolution detailing the purpose, amount, and number of mills. It also outlines how newly taxable property is calculated and how investment earnings from a large taxpayer reserve account can be used. The bill applies to property tax years beginning after December 31, 2025.

Montana HB865 revises property tax limitations, allowing local governments to exceed certain mill levy limits with voter approval.

Montana HB865 revises property tax limitations by allowing local governments to exceed certain mill levy limits with voter approval. The bill specifies conditions under which local governments can impose additional mill levies, including the need for a resolution detailing the purpose, amount, and number of mills. It also outlines how newly taxable property is calculated and how investment earnings from a large taxpayer reserve account can be used. The bill applies to property tax years beginning after December 31, 2025.