Montana Code 15-7-309. Classification or assessment methods
15-7-309. Classification or assessment methods. (1) This part shall not change or modify the methods of classification or assessment of real estate as provided for in this title or in any law of this state.
Terms Used In Montana Code 15-7-309
- Contract: A legal written agreement that becomes binding when signed.
- Real estate: includes :
(a)land;
(b)growing timber;
(c)buildings, structures, fixtures, fences, and improvements affixed to land. See Montana Code 15-7-303
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- Value: means the amount of the full actual consideration for real estate paid or to be paid, including the amount of any lien or liens on the real estate. See Montana Code 15-7-303
(2)The sale price of real estate shall not be the sole determinant of assessed value. The department shall consider, wherein the consideration is to be paid in deferred installments over a period of 10 years or more, the terms of the contract, amount of downpayment, amount of each installment, rate of interest, and other covenants or exceptional circumstances which may affect the consideration paid for real estate.