Montana § 15-8-511 Undivided Interest In Common Elements Of Condominium Project -- Definition

Montana Statutes

§ 15-8-511 — Undivided Interest In Common Elements Of Condominium Project -- Definition

Montana § 15-8-511

Title 15TAXATION

Ch. 8ASSESSMENT PROCEDURE

Part 5To Whom Property Is Assessed

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Bluebook

Mont. Code Ann. § 15-8-511 (2026).

Text

15-8-511 . Undivided interest in common elements of condominium project -- definition.

(1)Each unit of a condominium project is considered a parcel of real property subject to separate assessment and taxation. Each unit owner must be assessed for the unit owner's percentage of undivided interest in elements of the condominium project, except parks, owned in common by the unit owners. The percentage of undivided interest stated in a unit declaration is the figure to be used in assessing common elements under this section.

(2)As used in this chapter, "common elements" has the meaning provided in 70-23-102 .

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15-8-511 . Undivided interest in common elements of condominium project -- definition. (1) Each unit of a condominium project is considered a parcel of real property subject to separate assessment and taxation. Each unit owner must be assessed for the unit owner's percentage of undivided interest in elements of the condominium project, except parks, owned in common by the unit owners. The percentage of undivided interest stated in a unit declaration is the figure to be used in assessing common elements under this section.
(2) As used in this chapter, "common elements" has the meaning provided in 70-23-102 .