Montana Code 15-24-1601. Purpose
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15-24-1601. Purpose. The purpose of this part is to provide legislation and guidance for the administration of a property tax abatement program for the restoration, rehabilitation, expansion, and new construction of certified residential and commercial properties located within national register historic districts and properties listed in the National Register of Historic Places. The abatement does not apply to the tax on personal property.
Terms Used In Montana Code 15-24-1601
- Property: means real and personal property. See Montana Code 1-1-205
- Rehabilitation: means the process of returning a property to a state of utility through repair or alteration that makes possible an efficient contemporary use while preserving those features of the property that are significant to its historical, architectural, and cultural values. See Montana Code 15-24-1602
- Restoration: means the process of accurately recovering the form, details, and setting of a property as it appeared when it was originally built or constructed by removing later work or replacing missing earlier work. See Montana Code 15-24-1602