Montana DOR Proposes Property Tax Regulations Regarding Personal Property Depreciation Schedules

The Montana Department of Revenue Oct. 8 proposed regulations on personal property depreciation schedules for property tax purposes. The proposal includes measures to: 1) update the authority of the web-based Personal Property Depreciation Schedules and Trend Tables publication, adopted and incorporated by reference in the rules, to the 2022 version; 2) implement changes made by recently passed legislation including increasing the exemption amount to $300,000 from $100,000 for the business equipment tax exemption amount; 3) eliminate the need for future updates to the rules merely for exemption amount changes; 4) treat as non-taxable eligible property brought into Montana, unless it’s ...