Tax Exempt Real Property
You do not need to apply for real property exemptions for:
- Property owned by federal, state, and local governments
- Public libraries
- Irrigation districts not operated for gain or profit
- Municipal corporations
- Fire districts and some volunteer fire departments
- Special districts created by 7-11-10, MCA
- Farm buildings with a market value less than $500
Tax Exempt Personal Property
You do not need to apply for personal property exemptions for:
- Freeport merchandise and business inventories
- Sprinkler irrigation systems
- Livestock and the unprocessed products of livestock
- Producer-held grain in storage
- Unprocessed agricultural products
- Poultry and the unprocessed products of poultry
- Bees and the unprocessed products of bees
- Biological control insects
- Sugar beet equipment if:
- It has not been used in the last two years
- There are no sugar beet contracts available in the grower's marketing area
- Agricultural implements and machinery worth less than $100
- Down-hole equipment in oil and gas wells
- Certain motion picture and television property
- Intangible personal property, including software
- Harness, saddles, and other tack
- First $15,000 or less of hand-held tools
- Household goods and furniture
- A bicycle for personal use
- Personal property intended for rent or lease if it meets specific conditions
- Space vehicles and all associated equipment
- Title plant owned by a title insurer
- Small electrical generation equipment with a nameplate capacity of less than 1 megawatt
- Property subject to registration fees
- Class 8 property (business equipment) totaling less than $1 million in statewide market value
Please Note:
All exemptions and personal property reporting is subject to audit. Department personnel may visit the business, agricultural operation, or field site to ensure accurate personal property reporting.