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MT HB836
Bill
Status
Failed
5/22/2025
Primary Sponsor
Scott Rosenzweig
Click for details
AI Summary
- Creates a property tax deferral loan program allowing eligible homeowners to borrow the difference between their current property taxes and their 2022 property tax amounts
- Eligibility limited to Montana residents age 62 or older with at least 20% home equity, or surviving spouses of qualifying property owners who meet equity and residency requirements
- Applicants must meet Board of Housing income limits, own and occupy their primary residence for 5+ years, and maintain hazard insurance
- Loans accrue simple interest at the prime mortgage rate or 5% (whichever is less) and become due upon death of the owner, sale/transfer of the property, or fraud determination
- Transfers $6 million from the general fund to establish the program account by July 1, 2025, administered by the Board of Housing
Legislative Description
Provide for a property tax deferral loan program
Appropriations
Last Action
(S) Died in Standing Committee
5/22/2025
Committee Referrals
Taxation4/9/2025
Appropriations3/28/2025
Taxation3/18/2025
Full Bill Text
No bill text available