Unlike the income tax rebates that are being automatically distributed to eligible Montanans, the property tax rebates also approved by the State Legislature will only go to eligible taxpayers who apply for them.
The income and property tax rebates resulted from three new laws approved in early 2023. The laws aim to return a total of $899 million from the state budget surplus to taxpayers who qualify.
Although qualifying taxpayers do not need to do anything to get the income tax rebate, anyone seeking the property tax rebates will need to submit an application to the Montana Department of Revenue.
One property tax rebate will be available for property taxes paid for the 2022 tax year, and another will be available for property taxes paid for the 2023 tax year.
Each property tax rebate is worth up to $675. Eligible taxpayers who paid less than $675 in either year will qualify for a full refund.
The application period for the 2022 rebate is Aug. 15, 2023 to Oct. 1, 2023. The application period for the 2023 rebate is Aug. 15, 2024 to Oct. 1, 2024. Those seeking both rebates will need to apply for each one separately.
To claim each rebate, you need to meet the following qualifications:
- Residency: You must have owned a Montana residence for at least seven months of the year.
- Primary Residence: The Montana residence must have been your primary home for at least seven months of the year.
- Property Taxes: You must have been billed and paid property taxes on your primary residence.
Don’t leave your hard-earned money on the table. Apply for your property tax rebates at getmyrebate.mt.gov and take back what is yours.
Unsure about the rebate process? Let our Montana tax planning attorneys at Silverman Law Office, PLLC ensure you get every dollar you’re owed. Reach out today!