If you’re a Montana homeowner, you could be eligible for a property tax rebate to be disbursed among those who qualify. This program is designed to provide a financial relief to owners and could deliver up to $675 to each, or an amount not exceeding their property taxes on their principal Montana residence for a given year.
Wait, let’s explain it a little bit further: for example, if you owe $425 in property taxes on your principal Montana residence in 2022, you’ll receive a rebate of $425. However, if your property tax bill for the same year is $1,200, you’ll still receive a maximum rebate of $675. Easy, right? Well, you still have to comply to a list of prerequisites.
Montana’s Tax Rebate – You Could Get Up to $675
To qualify for this valuable rebate, you must meet specific criteria defined by the Montana state government. Firstly, you need to be a Montana taxpayer who, during the claim year, has been billed and has paid property taxes on your primary residence.
Additionally, you must have owned this Montana residence for a minimum of seven months and resided in it for the same duration during the claim year. Beside this, you must have received property tax bills, including special assessments and associated fees, and duly paid these taxes for your residence. It’s important to note that only one rebate is permitted per household.
Eligible claimants may include individuals, deceased individuals, or grantors of grantor trusts, provided they meet the necessary qualifications. It’s essential that the property tax bill is addressed to and in the name of the individual or grantor revocable trust applying for the rebate.
We should also mention that homes held in an LLC or corporation are ineligible for the rebate, even if a member or shareholder resided in the home for more than seven months during the claim year. Estates and trusts, with the exception of grantor revocable trusts, are also excluded from this program.
Calculating and Requesting Montana’s Property Tax Rebate
This is actually simple to explain: only property taxes paid on the dwelling and up to one acre of land surrounding it can be used to claim the rebate. If your property exceeds one acre, you can use this online calculator to determine the eligible amount of property taxes to report on your claim.
If you decided to move, (or had to do it on grounds of force majeure) from one principal residence to another within the same claim year, you can still qualify for the Property Tax Rebate. To be eligible, you must have paid Montana property taxes while residing in each principal residence for a total of at least seven consecutive months during the calendar year of the claim year.
Taxpayers are encouraged to file a claim for Montana’s tax rebate program. They can do this by either filing online through the TAP platform or by submitting a paper form. Filing online is fast and easy and allows officials to process your rebate claim quickly. Rebates claimed online will be issued within 30 days form the day the claim was received. The claiming period will be opened up to October 1, 2023.