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MT SB189
Bill
AI Summary
- Class three agricultural property tax rate reduced from 2.16% to 1.85% of productive capacity value
- Class four residential property tax rate reduced from 1.35% to 0.76% of market value
- Commercial property tax rate set at a flat 1.35% rather than the previous formula of residential rate multiplied by 1.4
- Higher tax rate for single-family homes valued over $1.5 million is eliminated
- Applies retroactively to tax years beginning after December 31, 2024, and the reappraisal cycle starting January 1, 2025
Legislative Description
Lower residential, commercial, and agricultural property tax rates
Revenue, State
Last Action
(S) Died in Process
5/23/2025
Committee Referrals
Taxation2/10/2025
Full Bill Text
No bill text available