Montana Code Annotated 2019



Part 2. Tax-Exempt Property

Personal And Other Property Exemptions

15-6-219. Personal and other property exemptions. The following categories of property are exempt from taxation:

(1) harness, saddlery, and other tack equipment;

(2) the first $15,000 or less of market value of tools owned by the taxpayer that are customarily hand-held and that are used to:

(a) construct, repair, and maintain improvements to real property; or

(b) repair and maintain machinery, equipment, appliances, or other personal property;

(3) all household goods and furniture, including but not limited to clocks, musical instruments, sewing machines, and wearing apparel of members of the family, used by the owner for personal and domestic purposes or for furnishing or equipping the family residence;

(4) a bicycle or a moped, as defined in 61-8-102, used by the owner for personal transportation purposes;

(5) items of personal property intended for rent or lease in the ordinary course of business if each item of personal property satisfies all of the following:

(a) the acquired cost of the personal property is less than $15,000;

(b) the personal property is owned by a business whose primary business income is from rental or lease of personal property to individuals and no one customer of the business accounts for more than 10% of the total rentals or leases during a calendar year; and

(c) the lease of the personal property is generally on an hourly, daily, weekly, semimonthly, or monthly basis;

(6) space vehicles and all machinery, fixtures, equipment, and tools used in the design, manufacture, launch, repair, and maintenance of space vehicles that are owned by businesses engaged in manufacturing and launching space vehicles in the state or that are owned by a contractor or subcontractor of that business and that are directly used for space vehicle design, manufacture, launch, repair, and maintenance;

(7) a title plant owned by a title insurer or a title insurance producer, as those terms are defined in 33-25-105;

(8) air and water pollution control and carbon capture equipment, as defined in 15-6-135, placed in service after January 1, 2014;

(9) a housetrailer, manufactured home, or mobile home that receives an exemption from the department based on abandonment, as provided in 15-6-242; and

(10) personal property used in the manufacture of ammunition components as provided in 30-20-204. (Subsection (10) terminates December 31, 2024--sec. 16, Ch. 440, L. 2015.)

History: En. Sec. 19, Ch. 532, L. 2005; amd. Sec. 1, Ch. 295, L. 2009; amd. Sec. 1, Ch. 374, L. 2015; amd. Sec. 3, Ch. 407, L. 2015; amd. Sec. 7, Ch. 440, L. 2015; amd. Sec. 1, Ch. 230, L. 2019.