Montana § 70-32-104 - Limitation On Value
Full text of Montana Montana Code Annotated § 70-32-104 — Limitation On Value, with citation guidance and answers to common questions.
§ 70-32-104. Limitation On Value
Limitation on value. (1) A homestead may not exceed the value provided in subsection (3). In a proceeding instituted to determine the value of the homestead, the assessed value of the land with included appurtenances, if any, and of the dwelling house as it appears on the last-completed assessment roll preceding the institution of the proceeding is prima facie evidence of the value of the property claimed as a homestead. (2) If a claimant who is an owner of an undivided interest in real property claims a homestead exemption, the claimant is limited to an exemption amount proportional to the claimant's undivided interest. (3) (a) The department of revenue shall adopt administrative rules setting the homestead value limit. (b) In 2021, the homestead value limit is $350,000. (c) The homestead value limit must increase by 4% every calendar year after 2021.
Frequently Asked Questions About Montana § 70-32-104
What does Montana Code Annotated § 70-32-104 cover?
Section 70-32-104 ("Limitation On Value") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 70-32-104?
A common citation format is "Montana Code Annotated § 70-32-104" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 70-32-104 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.