Bill
LC 3418
Overview: Bill Number: LC 3418, Title: Generally revise property tax laws, Status: (LC) Draft Died in Process, Introduced: December 14, 2024Purpose and Intent: This draft legislati
Overview: Bill Number: LC 3418, Title: Generally revise property tax laws, Status: (LC) Draft Died in Process, Introduced: December 14, 2024
Purpose and Intent: This draft legislation aims to make comprehensive changes to Montana's property tax laws. The primary goals are to simplify the tax system, provide more equitable assessments, and offer targeted relief for certain property owners.
Key Provisions:
- Consolidate multiple property tax classifications into a single, streamlined system
- Require annual reappraisals of all properties to ensure accurate and up-to-date assessments
- Establish a homestead exemption to provide tax relief for primary residences
- Implement a circuit breaker program to limit property tax burdens for low-income seniors and disabled individuals
Affected Parties and Impacts:
- All property owners in Montana would be affected by the changes to the assessment and taxation system
- Homeowners, especially those with lower incomes or on fixed budgets, would benefit from the homestead exemption and circuit breaker program
- Local governments may see changes in their property tax revenue streams, requiring adjustments to budgets and services
Procedural and Timeline Considerations:
This bill was a draft proposal that did not advance in the legislative process. As a "draft" or "LC" (Legislation Concept) bill, it did not receive a formal bill number or progress to an official hearing or vote.
Compiled from official sources — confirm details with the bill’s official record.
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