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Committee hears bill to let builders exclude half of income from sales of newly constructed starter homes
Summary
Representative Lukas Schubert, sponsor of House Bill 895, told the Montana House Tax Committee the proposal would create a 50% write‑off for income from the sale of newly constructed single‑family homes and duplexes sold to a third party for less than 85% of the county median residential value.
Representative Lukas Schubert, sponsor of House Bill 895, told the Montana House Tax Committee the proposal would create a 50% write‑off for income from the sale of newly constructed single‑family homes and duplexes sold to a third party for less than 85% of the county median residential value.
Schubert said the measure would apply to both individual and corporate income tax and that the Department of Revenue would calculate the county median during reappraisal cycles so builders could know qualifying values. "This bill will create a 50% write off for the income generated from the sale," Schubert said, adding the change is intended to lower the cost to…
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