HELENA — A pair of bills aimed at closing loopholes that may make it too easy for Montana property owners to qualify for hefty property tax benefits intended for farms and ranches got their initial hearings before the Montana Legislature last week, drawing hours of commentary from supporters and opponents.
House Bill 27, heard Friday by the House Taxation Committee, would rework state tax code so it no longer automatically awards agricultural tax status to large properties without requiring their owners to document farm income. Senate Bill 4, heard by the Senate Taxation Committee on Wednesday, would change tax calculations for land beneath homes on agricultural properties so the designation provides less benefit for lakefront parcels and other properties that would otherwise be taxed as high-value real estate.