Montana SB542 revises property tax laws, freezing property values for tax years 2025 and 2026 at 2024 levels unless decreased.
Montana SB542 revises property tax laws by freezing property values for tax years 2025 and 2026 at 2024 levels unless the Department of Revenue determines a decrease. The bill mandates the Department of Revenue to conduct reappraisals of certain property classes every two years and annually for others. It also requires the department to provide taxpayers with information on consumer price index adjustments and property tax changes. The act is effective upon passage, applies retroactively, and terminates on December 31, 2026.
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