Property of the state of Montana or any department, agency, or subdivision of the state or any other property not subject to ad valorem tax to the owner of the property by reason of the legal status of the owner, held under contract of sale or lease with option to purchase with lease money applicable to the purchase price by any person for the person's exclusive use, is subject to assessment to the purchaser or lessee for ad valorem property taxation.
Mont. Code Ann. § 15-24-1201
State and other exempt property held under contract -- when taxable
En
Official source: Montana Code Annotated (Montana Legislature). Reproduced from public-domain Montana statutes; confirm against the official source for the current text. Not legal advice.