Montana Code Annotated — Title 15 (Taxation)
Mont. Code Ann. § 15-6-702
State Property Tax Assistance Account
15-6-702 . State property tax assistance account. (1) There is a state property tax assistance account in the state special revenue fund established in 17-2-102 . The revenue allocated to the account as provided in 17-1-402 must be deposited in the account and distributed as provided in this section.
(2) (a) At the end of each fiscal year, if the balance in the account exceeds $50 million, the department shall determine the amount of property tax assistance per primary residence by subtracting the amounts listed in subsection (2)(c) and dividing the remainder by the total number of primary residences certified pursuant to 15-6-703 .
(b) By August 31 of each year, the department shall distribute to each county the property tax assistance per primary residence multiplied by the number of primary residences within the county. The county shall deposit the money in the account in which property tax revenue is held and use the distribution to provide property tax assistance pursuant to 15-6-701 .
(c) The department may retain 2% of the revenue allocated to the account for administering the certification of primary residences under 15-6-703 and shall retain $100,000 for appeals granted under 15-6-705 .
(3) The department shall provide each county with a list of property in the county that the department certifies pursuant to 15-6-703 qualifies as a primary residence to enable the county treasurer to administer the property tax assistance.
(4) A payment required pursuant to this section may be withheld if, for more than 90 days, a local government fails to:
# (a)
file a financial report required by 15-1-504 ;
# (b)
remit any amounts collected on behalf of the state as required by 15-1-504 ; or
# (c)
remit any other amounts owed to the state or another taxing jurisdiction.
Source: view the official text
In this chapter (40 sections)
- 15-6-242 · Exemption -- Abandoned Housetrailer, Manufactured Home, Or…
- 15-6-243 · Fiber Optic Or Coaxial Cable Abatement -- Wireless…
- 15-6-244 · Temporary Exemption For Residential Subdivision Development…
- 15-6-245 · Statement Of Potential Tax Liability -- Rulemaking Authority
- 15-6-301 · Definitions
- 15-6-302 · Property Tax Assistance -- Rulemaking
- 15-6-303 · And 15-6-304 Reserved
- 15-6-305 · Property Tax Assistance Program -- Fixed Or Limited Income…
- 15-6-306 · Through 15-6-310 Reserved
- 15-6-311 · Disabled Veteran Program
- 15-6-312 · Time Period For Property Tax Assistance
- 15-6-313 · Reserved
- 15-6-314 · Injured First Responder Program
- 15-6-401 · Legislative Findings -- Local Government Charters And Fixed…
- 15-6-402 · Definitions
- 15-6-403 · And 15-6-404 Reserved
- 15-6-405 · Homestead Reduced Tax Rate -- Application -- Limitations
- 15-6-406 · Reserved
- 15-6-407 · Refund For Failure To Claim Homestead Reduced Tax Rate --…
- 15-6-408 · Through 15-6-410 Reserved
- 15-6-411 · Rental Property Reduced Tax Rate -- Application --…
- 15-6-412 · Through 15-6-414 Reserved
- 15-6-415 · Homestead And Rental Property Reduced Tax Rates -- Improper…
- 15-6-416 · And 15-6-417 Reserved
- 15-6-418 · Appeal Or Denial Of Reduced Tax Rate
- 15-6-419 · Through 15-6-424 Reserved
- 15-6-425 · Rulemaking Authority
- 15-6-501 · Short Title
- 15-6-502 · Legislative Purpose
- 15-6-503 · Definitions
- 15-6-504 · Petition -- Approval Or Denial By Local Government --…
- 15-6-505 · Projects Subject To Existing Development Laws -- Preference…
- 15-6-506 · Temporary Exemption For Senior Care And Housing Development…
- 15-6-507 · Reports To Local Government By Tax-Exempt Senior Care And…
- 15-6-508 · Rulemaking
- 15-6-701 · Property Tax Assistance For Primary Residences
- 15-6-702 · State Property Tax Assistance Account
- 15-6-703 · Certification Of Primary Residence For State Property Tax…
- 15-6-704 · State Property Tax Assistance -- Penalty For False Or…
- 15-6-705 · Appeal Of Denial Of Certification Of Primary Residence