15-7-110. Purpose — reappraisal cycle. It is in the best interest of the state of Montana to mitigate the fluctuations in market value for class three and class four properties that occur during a 6-year reappraisal cycle. The amendment of 15-7-111 in section 16, Chapter 361, Laws of 2015, mitigates the market’s fluctuations in value by implementing a 2-year reappraisal cycle. The intent of the amendments in sections 6 and 7, Chapter 361, Laws of 2015, is for the statewide taxable value for all residential, commercial, industrial, and agricultural property for the reappraisal cycle beginning January 1, 2015, to remain the same as in the reappraisal cycle beginning January 1, 2009, and to adjust the tax rates as needed to accomplish this intent.

Terms Used In Montana Code 15-7-110

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Property: means real and personal property. See Montana Code 1-1-205
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201