Administrative Rules of Montana
Department 42 - REVENUE
Chapter 42.19 - GENERAL PROPERTY TAX PROVISIONS
Subchapter 42.19.14 - Local Government Tax Increment Financing Districts (TIFD)
Rule 42.19.1404 - NOTIFICATION REQUIREMENTS FOR THE CREATION OR AMENDMENT OF A TARGETED ECONOMIC DEVELOPMENT DISTRICT (TEDD) WITH A TAX INCREMENT FINANCING PROVISION
Current through Register Vol. 6, March 22, 2024
(1) A local government may create or amend a TEDD containing a tax increment financing provision pursuant to Title 7, chapter 15, parts 42 and 43, MCA. The department will review a local government's urban renewal district (URD) or TEDD processes, documents, and information required under those statutes and these rules to determine fulfillment of a district's purpose and the specific requirements provided under 7-15-4279, MCA, in the department's TEDD taxable value certification process.
(2) Before the department can certify the base taxable value of property located within a newly created or amended district, the local government must notify the department of the intent to create or amend a TEDD containing a tax increment financing provision. The notification must include:
(3) If the local government wants the department to provide a list of the affected real, separately assessed improvements, personal and centrally assessed properties within the district, the local government must provide the notification information required in (2)(a) through (c), and preliminary versions of the notification information described in (2)(d) and (e) to the department no later than August 1. Within 60 days of receiving the notification, the department will provide the following to the designated contact:
(4) If the local government does not need the department to provide a list of the affected real, separately assessed improvement, personal and centrally assessed properties within the district, the local government must provide the notification information required in (2) to the department no later than December 1.
(5) By no later than February 1 of the calendar year following the creation of the district, the local government must provide the department with the following:
(6) Within 20 business days after the department receives the required documentation in (2) and (5), the department will send notification to the local government whether the documentation is complete and correct for the desired base year.
(7) All correspondence and documentation must be mailed to the Department of Revenue, Property Assessment Division at P.O. Box 8018, Helena, MT 59604-8018, or e-mailed to DORTIFinfo@mt.gov.
AUTH: 15-1-201, MCA; IMP: 7-15-4279, 7-15-4282, 7-15-4283, 7-15-4284, 7-15-4285, 15-10-202, 15-10-420, 76-1-103, MCA