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.
History: En. Sec. 1, Ch. 452, L. 1985; amd. Sec. 2, Ch. 379, L. 2005.
Structure Montana Code Annotated
Chapter 8. Assessment Procedure
Part 5. To Whom Property Is Assessed
15-8-501. Assessment of unknown or absent owners
15-8-502. Representative status to be designated
15-8-503. Undistributed property of deceased persons
15-8-504. Property and money in litigation
15-8-505. through 15-8-510 reserved
15-8-511. Undivided interest in common elements of condominium project -- definition
15-8-512. Common elements serving residential or commercial development