42.18.121 PURPOSE; ADOPTION OF MONTANA REAPPRAISAL PLAN AND MANUALS; VALUATION CYCLES
(1) This chapter pertains to the department's statutorily required reappraisal plan and related property classification and valuation manuals for each valuation cycle. The Montana Reappraisal Plan (Plan) provides an overview of the department's duty to complete uniform valuations of all taxable real property. The manuals referenced in (3) describe department processes used in the classification and valuation of residential land and improvements, commercial land and improvements, industrial land and improvements, agricultural land, and forest land.
(2) The department will use its CAMA system to assist in its valuation processes and will consider the sales comparison approach, cost approach, and income approach in its determination of a property's market value. The department shall use the approach or approaches based on the type of property and the quantity and quality of data available.
(3) The department adopts and incorporates by reference the Plan, the Montana Residential, Commercial, and Industrial Property Classification and Valuation Manual, and the Montana Agricultural Land Classification and Valuation Manual, all dated January 1, 2021. The department also adopts and incorporates by reference the Montana Forest Land Classification and Valuation Manual dated January 1, 2021. Each manual explains how the department classifies and values subject property types. A copy of the Plan and the manuals may be obtained from the Department of Revenue, Property Assessment Division, P.O. Box 8018, Helena, MT 59604-8018, and on the department's web site at https://mtrevenue.gov/publications/property-reappraisal-plan-manuals.
(4) Class four residential, commercial, and industrial property is appraised at its market value as of January 1, 2020, for the 2021-2022 valuation cycle.
(5) Class three agricultural land is appraised at its productivity value as of January 1, 2020, for the 2021-2022 valuation cycle. Agricultural land values reflect productivity values in accordance with 15-7-201, MCA.
(6) Class ten forest land is appraised at its productivity value as of January 1, 2020, for the 2021-2026 valuation cycle. Forest land values reflect productivity values in accordance with 15-44-103, MCA.
(7) For the purposes of these rules, the terms "reappraisal cycle" and "valuation cycle" are considered synonymous and interchangeable.
History: 15-1-201, 15-7-111, 15-7-201, MCA; IMP, 15-7-101, 15-7-103, 15-7-111, 15-7-112, 15-7-201, 15-44-103, MCA; NEW, 1993 MAR p. 2127, Eff. 9/17/93; AMD, 2000 MAR p. 3562, Eff. 12/22/00; AMD, 2002 MAR p. 1099, Eff. 4/12/02; AMD, 2004 MAR p. 3156, Eff. 12/17/04; AMD, 2005 MAR p. 2469, Eff. 12/9/05; AMD, 2010 MAR p. 2229, Eff. 9/24/10; AMD, 2014 MAR p. 2990, Eff. 12/12/14; AMD, 2018 MAR p. 2410, Eff. 1/1/19; AMD, 2021 MAR p. 71, Eff. 1/16/21.