One of the most important things people in the U.S. do as they get ready for the new year is learn about their state’s taxes as well as federal taxes. State governments will sometimes give extra refunds and returns to families that live in their state to help them out financially. This was the case in Montana in 2024.
Thanks to the state’s Property Tax Rebate scheme, some people who live in this state may have been able to get a property tax rebate of up to $675.
People who live in the state and own their own home and have paid property taxes on their main home for at least seven months in 2023 will get some financial help through this new program. For people who met the program’s standards, this new rebate could be a big help.
The last day to apply for this program was October 1, 2024. People who missed it will have to wait until the next tax season to see if another refund of the same type is available. The Montana Division of Taxation started to handle claims on August 15.
Any claims made online will get paid within 30 days. For written claims, the process can take up to 90 days. This means that people who waited until the very last minute to file will not get their checks until at least November 2025 and no later than January 2025.
What is the Montana Property Tax Refund and who qualifies?
People who lived in Montana and paid property taxes on their main home could get up to $675 back through the Montana Property Tax Rebate. The refund amount couldn’t have been more than the property taxes paid on the main home in Montana for the 2023 tax year. This meant that some people couldn’t get the full amount of the rebate.
“If you paid $425 in property taxes on your main home in Montana in 2023, you would receive a $425 property tax rebate,” says the Montana Business and Income Tax Division. In 2023, if you paid $1,200 in property taxes on your main home, you would get a $675 property tax refund.
People in the state who owed taxes had to meet some simple standards in order to get this refund. Some of the things that had to be done in order to get this return were:
- Having owned a residence in Montana for at least seven months in 2023.
- Having lived in the residence for at least seven months of the same year.
- Having received bills and paid property taxes for their primary residence.
As with most rebates and refunds, each household can only get one. Eligible houses include single-family homes, apartments, condos, trailers, manufactured homes, and more. Property taxes paid on the home and up to an acre of land were the only things that could get you a rebate. Besides these conditions, the types of homes that aren’t qualified are:
- Properties owned by an entity, such as an LLC or a corporation, are not eligible for the rebate.
- Renters do not qualify for the rebate. You must have owned the home and lived in it for at least seven months during the claim year to claim the rebate.
- Irrevocable trusts.
If someone moved their main home within the state in 2023, they could still get the refund as long as they lived there for seven months in a row.
The Montana Business and Income Tax Division says, “If you moved from one principal residence to another principal residence in 2023, you can get the Property Tax Rebate if you paid Montana property taxes while living in each principal residence for at least seven months in a row during the claim year.” On your claim, you should write down the geocode of the house you lived in the longest.
Tell the government how much you paid in property taxes for both of your homes in 2023. For the refund to apply, you must have lived in one of your two homes as your main home for at least seven months in 2023 if you owned and lived in both homes during the year.
There is only one Property Tax Rebate you can get, even if you lived in more than one house. If a taxpayer is away from their home for more than 5 months, they are not eligible for the refund.
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