Revise property tax rates for agricultural, residential, and commercial property

This bill updates Montana's property tax rates for agricultural, residential, and commercial properties, directly affecting landowners and property owners across the state. It amends existing state statutes to change the tax percentage for agricultural land from 1.7% to 2.16% of productive capacity value and adjusts residential and commercial tax rates from 0.76% to 1.35% of market value, while also modifying how certain mixed-use properties are classified and taxed. The legislation includes specific provisions for nonqualified agricultural land, mining claims, and residential properties over $1.5 million in value, with tax rates applied differently based on property use and size. The changes take effect immediately upon passage and apply retroactively to tax years beginning after December 31, 2024, and the reappraisal cycle starting January 1, 2025.