Montana HB894 revises property appraisal to use an average value for tax purposes.
Montana HB894 amends the property appraisal process to use an average value for tax purposes. The bill specifies that the department shall use the sales comparison approach for residential condominium units and the cost approach for commercial condominium units. It mandates the exclusion of the lowest and highest yearly data when calculating the average market value over a 10-year period. The bill also details the valuation methods for various property types, including agricultural lands, forest lands, and railroad properties.
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