Current through Register Vol. 6, March 22, 2024
(1) The department will determine the:
(a) base taxable value for a URD or TEDD as
the taxable value of all property located within the district, exclusive of any
Title 15, chapter 24, MCA, locally approved abatement reductions, as of January
1 of the base year established in accordance with ARM
42.19.1403(6)
and
42.19.1404(6);
and
(b) incremental taxable value
by subtracting the base taxable value identified in (1)(a) from the total
taxable value of all property within the district.
(2) The incremental value of a district
cannot be less than zero.
(3) The
department will report the base, actual, and incremental taxable values to all
affected taxing jurisdictions by the first Monday of August each year when the
department certifies values pursuant to
15-10-202,
MCA.
(4) A URD or TEDD may include
one or more levy districts. If a URD or TEDD includes more than one levy
district, the department will apportion the base taxable value and the
incremental taxable value between the levy districts by apportioning the base
taxable value and the incremental taxable value to each levy district according
to its contribution to the total taxable value of the URD or TEDD.
(5) A local government that amends the
boundaries or makes changes within a valid URD or TEDD, pursuant to the
provisions of Title 7, chapter 15, parts 42 and 43, MCA, shall follow the
process described in ARM
42.19.1403
or 42.19.1404.
(a) In cases where a boundary
amendment removes property from an existing URD or TEDD:
(i) the removed property shall be considered
newly taxable pursuant to
15-10-420,
MCA;
(ii) the base year of the
original URD or TEDD will not change; and
(iii) the total value of the URD or TEDD will
be reduced by the value of the property that has been removed from the
district. The value of the property being removed will be the value determined
by the department for ad valorem tax purposes as of January 1 of the year in
which the department certifies the amendment; and
(iv) The reduced base value of the URD or
TEDD will be determined by the following formula:
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(b) In cases where a URD or TEDD boundary
amendment adds new property to an existing URD or TEDD:
(i) the base year and base taxable value of
the properties located within the original URD or TEDD will not
change;
(ii) the base taxable value
of the property being added to the URD or TEDD by the boundary amendment will
be the actual taxable value determined by the department for ad valorem tax
purposes as of January 1 of the year in which the department certifies the
amendment;
(iii) the base taxable
value calculated pursuant to (ii) of the property being added to the URD or
TEDD will be added to the existing base taxable value of the URD or TEDD to
create the new base taxable value that shall be used to calculate the
incremental taxable value of the URD or TEDD; and
(iv) the incremental value of the URD or TEDD
after the boundary amendment will be calculated using the new base taxable
value determined in (iii).
AUTH:
15-1-201,
MCA; IMP:
15-10-202,
7-15-4284,
7-15-4285,
15-10-420,
MCA
