During its 2023 session, the Republican-controlled Montana Legislature allocated $764 million from the state’s budget surplus for income and property tax rebate.
Following Gov. Greg Gianforte’s March 13 signing of those rebates into law, this is what taxpayers should know to ensure they receive their refund from the Montana Department of Revenue.
How Much Tax rebate Am I Entitled to?
Two categories of rebates were approved by lawmakers, one for income taxes and the other for property taxes.
Refunds on Montana income taxes for 2021
If you were a full-year resident of Montana and timely paid your state taxes on your income for both 2020 and 2021, you might receive up to $1,250 for your taxes in that year.
The $1,250 cap applies to taxpayers who filed as single taxpayers, heads of household, or married taxpayers who filed separately.
Married couples who filed jointly are qualified for up to $2,500, which is double that amount.
Tax credits for the years 2022 and 2023
Homeowners who have stayed in their primary house for at least seven months of the year are qualified for tax credits of up to $500 per year for their 2022 and 2023 property taxes.
Property tax payments are submitted to county treasurers twice a year and are due in November and May, unlike mortgage payments, which are frequently handled through banks.
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How Do I Request a Refund?
Beginning on August 15, 2023, taxpayers may use our TransAction Portal to submit an online or paper claim for the 2022 rebate.
The deadline for filing the claim is October 1, 2023.