As citizens begin preparing for the new year, one of the most important things residents in the U.S do is gather information not just about federal taxes, but also about the intricacies of taxes in their state of residence. Sometimes states will implement additional refunds and rebates to help lower the economic burden of the families that live within it, and this was the case with the state of Montana for the year 2024.

Some of this state’s residents may have qualified for a property tax rebate of up to $675, thanks to the state’s Property Tax Rebate program. This new initiative was created to provide some financial relief to residents of the state who own their home and who had been paying property taxes on their primary residence for at least seven months during 2023. This new rebate could offer significant help for those who met the program’s requirements.

The deadline to apply for this program was closed on October 1st 2024, so for those who missed their mark, they will have to wait and see if another rebate of the same type is available for the next tax cycle. The Montana Division of Taxation began processing claims on August 15, and payments will be issued within 30 days for any claims filed online. For paper claims, the process can take up to 90 days, so anyone that waited until the last days to file will not receive their checks until November at the earliest, January 2025 at the latest.

What is the Montana Property Tax Refund and who qualifies?

The Montana Property Tax Rebate was a refund of up to $675 for property taxes paid on a primary residence in Montana. The amount of the rebate must not have been greater than the property taxes paid on the primary Montana residence for tax year 2023, which means that not everyone was able to qualify for the maximum amount this rebate provided.

According to the Montana Business and Income Tax Division, “if you paid $425 in property taxes on your principal Montana residence in 2023, you would receive a $425 property tax rebate. If you paid $1,200 in property taxes on a principal residence in 2023, you would receive a $675 property tax rebate.”

Taxpayers in the state had to meet certain basic requirements to be able to receive this refund. Some of the requirements to receive this particular refund included:

• 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 refunds and rebates, only one refund is allowed per household, and eligible dwellings include single-family homes, apartments, condos, trailers, and manufactured homes, among others. Rebates were available only for property taxes paid on the residence and up to one acre of land. Apart from these conditions, the types of ineligible residences include:

• 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.

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For those who moved primary residence within the state in 2023, the could still qualify for the rebate as long as they resided in the state for seven consecutive months. The Montana Business and Income Tax Division explains “If you moved during 2023 from one principal residence to another principal residence, you can qualify for the Property Tax Rebate if you paid the Montana property taxes while residing in each principal residence for a total of at least 7 consecutive months during the calendar year of the claim year. On your claim, report the geocode for the residence you lived in the longest. Report the total amount of property taxes you paid for both residences for Tax Year 2023. If you owned and lived in two separate homes for the entirety of 2023, you must have lived in one of the homes as a principal residence for at least 7 months during the year to qualify for the rebate. You can only qualify for one Property Tax Rebate, even if you owned two or more homes that you lived in. Extended absences of more than 5 months from a home disqualify a taxpayer from receiving the rebate.”

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