HB903

Montana HB903 establishes a new class of property for manufacturing purposes, setting a taxable percentage and defining applicable property.

Montana HB903 creates a new class of property, class nineteen, specifically for manufacturing purposes. This class includes property used for the mechanical, physical, or chemical transformation of materials, substances, or components into new products, as well as property used for assembling component parts of manufactured products. The taxable percentage for this class is set at 1.47% of the market value. The act applies to property tax years beginning on or after January 1, 2026, for land and improvements used for manufacturing, excluding property classified as class eight.