Local governments may offer a tax exemption for land sold or donated to a local economic development organization.

To be eligible, the improvements or land must:

• Be sold or donated to a local economic development organization,
• Not be used for six months before the sale or donation, and
• Be approved by the local government.

A local economic development organization is a private, nonprofit organization created to help local businesses.

Benefit

The donated or sold commercial property is exempt from mills levied for:

• Universities,
• High schools,
• Elementary schools, and
• Other levies required by state law.

Related Laws

15-24-2001 and 15-24-2002, MCA