2023 Montana Legislature

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House bill NO. 189

INTRODUCED BY G. Nikolakakos, S. Fitzpatrick, J. Esp, L. Jones, G. Hertz, D. Zolnikov, J. Trebas, B. Beard, J. Ellsworth, N. Duram, K. Bogner, B. Mitchell, S. Kerns, C. Friedel, M. Yakawich, T. Brockman, J. Kassmier, C. Sprunger

By Request of the ****

 

A BILL FOR AN ACT ENTITLED: "AN ACT REVISING THE PROPERTY TAX ASSISTANCE PROGRAM; INCREASING THE MARKET VALUE TO WHICH THE PROGRAM APPLIES; AMENDING SECTION 15-6-305, MCA; and PROVIDING AN APPLICABILITY DATE."

 

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

 

Section 1. Section 15-6-305, MCA, is amended to read:

"15-6-305. Property tax assistance program -- fixed or limited income -- inflation adjustments. (1) There is a property tax assistance program that provides graduated levels of tax assistance for the purpose of assisting citizens with limited or fixed incomes. To be eligible for the program, applicants must meet the requirements of 15-6-302.

(2)        The first $200,000 $350,000 in appraisal market value of residential real property qualifying for the property tax assistance program is taxed at the rates established by 15-6-134 multiplied by a percentage figure based on the applicant's qualifying income determined from the following table:

Income

Income

Percentage

Single Person

Married Couple

Multiplier

 

Head of Household

 

$0 - $8,413

$0 - $11,217

20%

$8,414 - $12,900

$11,218 - $19,630

50%

$12,901 - $21,032

$19,631 - $28,043

70%

$0 - $13,590

$0 - $18,310

20%

$13,591 - $18,580

$18,311 - $27,667

50%

$18,581 - $27,621

$27,668 - $37,019

70%

(3)        The market value in subsection (2) must be adjusted after each reappraisal cycle provided for in 15-7-111 using an inflation index based on the change in appraised value of a median value of residential real property participating in the property tax assistance program.

(3)(4)     The qualifying income levels contained in subsection (2) must be adjusted annually using the PCE inflation factor defined in 15-6-301, rounded to the nearest whole dollar amount. If the adjustment results in a decrease in qualifying income levels from the previous year, the qualifying income levels must remain the same for that year."

 

NEW SECTION. Section 2.Applicability. [This act] applies to property tax years beginning after December 31, 2023.

 


Latest Version of HB 189 (HB0189.001)
Processed for the Web on January 24, 2023 (2:18PM)

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