HOUSE BILL NO. 671

INTRODUCED BY R. BITNEY

A BILL FOR AN ACT ENTITLED: "AN ACT PROVIDING THAT CERTAIN VACANT PARCELS OF LAND THAT ARE PART OF A NEWLY PLATTED SUBDIVISION ARE VALUED AS UNIMPROVED CLASS FOUR PROPERTY FOR TAX PURPOSES; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE AND A RETROACTIVE APPLICABILITY DATE."

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:

NEW SECTION. Section 1. Valuation of vacant subdivided land. (1) Vacant parcels of land under one ownership that are part of a newly platted subdivision that is filed with the county clerk and recorder in compliance with the Montana Subdivision and Platting Act must be valued for property tax purposes as unimproved class four property. The land must be valued as if it has no site improvements. The land must be valued as provided in this section until there is a change in ownership.

(2) For the purposes of this section:

(a) the phrase "newly platted subdivision" means a platted subdivision filed with the county clerk and recorder after December 31, 1997; and

(b) the phrase "vacant parcels of land" means land with site improvements but without residential or commercial buildings or other structures constructed on the surface of the land.

NEW SECTION. Section 2. Codification instruction. [Section 1] is intended to be codified as an integral part of Title 15, chapter 8, part 1, and the provisions of Title 15, chapter 8, part 1, apply to [section 1].

NEW SECTION. Section 3. Effective date. [This act] is effective on passage and approval.

NEW SECTION. Section 4. Retroactive applicability. [This act] applies retroactively, within the meaning of 1-2-109, to property tax years beginning after December 31, 1998.

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