As the new year approaches, many people in the United States learn about changes to their taxes, including federal and state programs designed to help.
In 2024, Montana introduced a Property Tax Rebate program that allowed some homeowners in the state to receive financial assistance. This rebate could be up to $675, offering much-needed relief to residents.
What Is the Montana Property Tax Rebate?
The Montana Property Tax Rebate is a refund given to homeowners who paid property taxes on their main home in 2023. The rebate amount is based on the property taxes paid, but it cannot exceed $675.
For example, if a person paid $1,200 in property taxes, they would receive the maximum refund of $675. If they paid $425, they would only receive $425 as a refund.
Who Qualifies for the Property Tax Rebate?
To qualify for the rebate, homeowners in Montana needed to meet specific requirements:
- Residency: You must have owned and lived in your home in Montana for at least seven months in 2023.
- Property Taxes Paid: You must have paid property taxes on your primary residence for the same year.
- Eligible Properties: Single-family homes, apartments, condos, trailers, and manufactured homes qualify, but properties owned by businesses (like LLCs or corporations) do not.
Renters do not qualify for the rebate, as you must own and live in your home. If you owned and lived in more than one home during 2023, you could still apply for the rebate as long as you met the seven-month living requirement in each home.
Important Deadlines
The deadline for applying for this rebate was October 1, 2024. Those who missed this deadline will need to wait until the next tax season to see if another rebate is available. Claims started being processed on August 15, 2024.
- Online claims: Paid within 30 days.
- Written claims: May take up to 90 days to process.
If you filed your claim close to the deadline, you might not receive your refund until November 2024 or January 2025.
Why the Property Tax Rebate Matters
This rebate program was designed to help homeowners offset their property taxes, especially for those who may be struggling financially. By providing a refund of up to $675, Montana’s government aimed to provide extra relief to families who paid significant property taxes in 2023.
