Revise residential and commercial property tax rate

This bill amends Montana's property tax code to adjust the tax rate for Class Four residential and commercial properties. It directly affects homeowners, businesses, and property owners whose real estate falls under this classification. The key change is a revision of the tax rate from 1.35% to 0.76% on market value for most residential properties, with higher rates applied to properties exceeding $1.5 million in value. Commercial property will be taxed at a rate of 1.35% of market value, while golf courses remain taxed at half the commercial rate. The legislation applies immediately upon passage and includes retroactive application to tax years beginning after December 31, 2024.