Montana SB2 revises tax increment treatment upon expiration of tax increment financing provisions.

Montana SB2 amends the treatment of tax increments upon the expiration of tax increment financing provisions. The bill modifies the definition of newly taxable property to exclude the release of incremental taxable value from districts using tax increment financing. It also adjusts the procedures for calculating mill levies for governmental entities, ensuring that certain levies are not included in subsequent years. The changes apply to property tax years beginning after December 31, 2025.

Montana SB2 revises tax increment treatment upon expiration of tax increment financing provisions.

Montana SB2 amends the treatment of tax increments upon the expiration of tax increment financing provisions. The bill modifies the definition of newly taxable property to exclude the release of incremental taxable value from districts using tax increment financing. It also adjusts the procedures for calculating mill levies for governmental entities, ensuring that certain levies are not included in subsequent years. The changes apply to property tax years beginning after December 31, 2025.