15-24-2103. Exclusions from other property tax reductions -- recapture. - Montana Statutes

     15-24-2103. Exclusions from other property tax reductions -- recapture. (1) If a taxable value decrease is taken pursuant to this part, other property tax reductions, including but not limited to those in 15-24-1402, 15-24-1501, and 15-24-1502, are not allowed in the tax year for which the decrease is taken under this part.
     (2) Property taxes abated from the reduction in taxable value allowed by 15-24-2102 are subject to recapture by each local governing body if the ownership or use of the property does not meet the requirements of 15-24-2102 or the joint resolution required by 15-24-2102(2)(a). The recapture is equal to the amount of taxes avoided, plus interest and penalties for nonpayment of property taxes as provided in 15-16-102, during any period in which the abatement was in effect. The amount recaptured, including penalty and interest, must be distributed by the treasurer to funds and accounts subject to the abatement in the same ratio as the property tax was abated. A recapture of taxes abated is not allowed with regard to property ceasing to qualify for the abatement by reason of an involuntary conversion or if the property is transferred to another person and the person maintains the same or similar level of operation of the commercial or industrial property. The recapture of abated taxes may be canceled, in whole or in part, if a local governing body determines that the taxpayer's failure to meet the requirements of this section is a result of circumstances beyond the control of the taxpayer.

     History: En. Sec. 3, Ch. 421, L. 2009.