Legislators Moving Forward With Increasing Homestead Exemption

The Montana Legislature is approving at the Senate level an increase to the homestead exemption.

The bill reads that the limitation on value for a homestead would change from $250,000 to $350,000.

The bill passed its second reading by a 50-0 on Wednesday, Jan. 27.

Bill sponsor Jason Ellsworth, R-Hamilton, suggested an amendment to the bill on Jan. 27 that would automatically increase the value limit by 4 percent each year.

“We see values consistently increase, it’s so we won’t have to be revisiting the document every session,” Ellsworth said.

One opponent of the amendment said there is no time line for the 4 percent for anything and that it doesn’t make sense for legislators.

“What it does is protect Montanans with their homes,” Ellworth said.

The amendment passed by a 37-13 margin.

Ellsworth urged land owners to take documents to their courthouses to keep current with the new legislation.