Loading chat...

MT HB894

Bill

Official Source

Status

Failed

5/20/2025

Primary Sponsor

Sherry Essmann

Click for details

Origin

House of Representatives

2025 Regular Session

AI Summary

  • Property tax assessments would use a 10-year average market value (current year plus prior 9 years), excluding the highest and lowest yearly values from the calculation
  • Class four residential and commercial properties would be assessed at 100% of this averaged market value rather than a single-year valuation
  • Newly constructed, remodeled, or reclassified properties would be assessed at 100% of current market value for the first year, then transition to the averaging method as more years of data accumulate
  • The bill removes the existing railroad transportation property assessment formula (Section 15-23-205) from statute
  • Applies to the reappraisal cycle beginning January 1, 2027

Legislative Description

Revising property appraisal to use an average value

Local Finance

Last Action

(H) Died in Process

5/20/2025

Committee Referrals

Appropriations4/1/2025
Taxation3/28/2025

Full Bill Text

No bill text available