77-1-502. Computation of state land equalization amount. - Montana Statutes

     77-1-502. Computation of state land equalization amount. (1) The department of revenue shall compute the amount of taxes that would be payable on the county assessments of state-owned grazing, agricultural, or forest property as if it were owned by and taxable to a taxpayer of the county.
     (2) If the land is not classified, the sum must be determined by the average tax payment made on like property within the county in which the land is situated, not to exceed 12 cents per grazing acre, 35 cents per agricultural acre, and 12 cents per forest acre. The average tax may be derived from the most recent biennial report of the department of revenue. The total figure arrived at by this method must be called the gross assessment figure.
     (3) The county exemption factor must be determined by dividing the percentage that the state-owned land bears to the total land area of the county into 6%. This quotient must be multiplied by the gross assessment figure, and the product is called the state exemption figure.
     (4) The state exemption figure must be subtracted from the gross assessment to give the state land equalization amount.

     History: En. Sec. 2, Ch. 235, L. 1967; amd. Sec. 55, Ch. 391, L. 1973; R.C.M. 1947, 81-1116; amd. Sec. 200, Ch. 574, L. 2001.