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MT HB461
Bill
Status
Failed
5/20/2025
Primary Sponsor
Greg Oblander
Click for details
AI Summary
- Creates a property tax exemption for homeowners age 67 or older who have owned and occupied their primary residence for 5 or more years
- Exemption amount equals the difference between the current market value and the market value in the base year when the exemption was first approved, effectively freezing assessed value
- Exemption terminates if the property is sold or if remodeling adds more than 100 square feet; general maintenance like painting, roofing, or appliance replacement does not affect eligibility
- Qualifying property includes single-family dwellings, manufactured homes, trailers, or mobile homes with up to 5 acres of surrounding land
- Applications must be filed by March 1, applicants must live in the residence at least 7 months per year, and the exemption applies to tax years beginning after December 31, 2025
Legislative Description
Provide exemption for certain owner-occupied residential property owned by persons 67 or older
Local Finance
Last Action
(H) Died in Process
5/20/2025
Committee Referrals
Taxation2/12/2025
Full Bill Text
No bill text available