Mont. Admin. r. 42.20.515 - DETERMINATION OF TOTAL TAXABLE VALUE OF NEWLY TAXABLE PROPERTY

(1) The department will calculate the value attributable to newly taxable property that is classified as class four, five, seven, eight, nine, twelve, thirteen, fourteen, fifteen, and sixteen for each taxing jurisdiction annually.

(2) For the 2014 tax year and subsequent years, the department will calculate the taxable value attributable to newly taxable property in each of the classes of property listed in (1) for each taxing jurisdiction as follows:

(a) The value attributable to newly taxable property will be calculated by subtracting the prior year adjusted taxable value from the current year adjusted taxable value to determine the total value of newly taxable property in a jurisdiction by tax class.

(b) The current and prior year adjusted taxable values will be calculated by adjusting the current and prior year taxable values by an effective rate. The effective rate will be calculated from the current year taxable value and the current year market value, with the exception of class four, which will use the current year taxable value and the current year phase-in value to reduce the impact that a change in phase-in value has on the effective rate.

(c) The current year adjusted taxable value will be calculated by multiplying the current year market value by the effective rate determined in (b).

(d) The prior year adjusted taxable value will be calculated by multiplying the prior year market value by the effective rate determined in (b).

(3) The total taxable value attributable to all of the newly taxable property in a taxing jurisdiction will be calculated by summing the taxable value attributable to newly taxable property in all classes of property listed in (1).

(4) If the newly taxable value, as calculated according to (2) and (3), for any class of property in any taxing jurisdiction is less than zero, then the newly taxable value for that class of property in that taxing jurisdiction is zero.

Notes

Mont. Admin. r. 42.20.515

NEW, 1999 MAR p. 2905, Eff. 12/17/99; AMD, 2003 MAR p. 315, Eff. 2/28/03; AMD, 2006 MAR p. 3103, Eff. 12/22/06; AMD, 2009 MAR p. 1263, Eff. 7/31/09; AMD, 2014 MAR p. 2994, Eff. 12/12/14.

15-1-201, 15-7-111, MCA; IMP, 15-10-420, MCA;