Montana SB189 proposes to lower property tax rates for agricultural, residential, and commercial properties.

Montana SB189 revises property tax rates for class three agricultural land, class four residential, and commercial properties. It lowers the tax rate for class three agricultural land to 1.85% of its productive capacity value. For class four properties, it reduces the tax rate for residential properties to 0.76% of market value and for commercial properties to 1.35% of market value. The bill also includes provisions for retroactive applicability to tax years beginning after December 31, 2024, and the reappraisal cycle starting January 1, 2025.

Montana SB189 proposes to lower property tax rates for agricultural, residential, and commercial properties.

Montana SB189 revises property tax rates for class three agricultural land, class four residential, and commercial properties. It lowers the tax rate for class three agricultural land to 1.85% of its productive capacity value. For class four properties, it reduces the tax rate for residential properties to 0.76% of market value and for commercial properties to 1.35% of market value. The bill also includes provisions for retroactive applicability to tax years beginning after December 31, 2024, and the reappraisal cycle starting January 1, 2025.