Montana Property Tax Relief: Deadline Is Next Week

Montana homeowners who haven’t yet applied for a Montana property tax reduction need to hurry because the deadline is next week. Homeowners can benefit from two property relief programs if they apply before the deadline.

Property Tax Relief in Montana – You Can Benefit from Two Programs

Governor Greg Gianforte reminded eligible Montanans to apply before the April 15 deadline to benefit from two property tax relief programs.

“… I am proud to have worked with the Legislature to provide relief to Montanans through property tax rebates and assistance programs. I encourage those who qualify to apply for this program before the April 15 deadline,” Governor Gianforte said in a statement.

Two property tax relief programs in Montana available to homeowners are the Property Tax Assistance Program (PTAP) and the Montana Disabled Veterans (MDV) Property Tax Assistance Program.

The PTAP program is available to homeowners who meet homeownership, occupancy, and income requirements. This program lowers property tax rates for eligible homeowners.

Last year, Governor Gianforte expanded eligibility for the program by increasing the market value eligibility of a property from $200,000 to $350,000. Additionally, program changes for tax year 2024 include higher qualifying income levels.

The MDV program is 100% for disabled veterans. Unmarried spouses of deceased or 100% disabled veterans may also receive relief under this program. The MDV program also has a higher qualifying income level for tax year 2024.

For more information and to apply for property tax relief in Montana, visit the Property Tax Relief Program webpage.

What do you need?

Between tax years 2001 and 2022, inflation increased by an average of 2.42% per year, but during the same period, the average annual property tax growth rate was 6.19% for counties, 6.13% for cities, 4.40% for local schools, and 3.60% for schools. schools countywide, according to data from the nonpartisan Legislative Finance Department.

Governor Gianforte has worked to reduce the burden of increased property taxes on residents. For example, last June, the Governor approved $120 million in permanent, long-term property tax relief through House Bill 587.

The governor also won approval for up to $1,350 in property tax rebates for homeowners on their primary residences in 2023 and 2024. This measure is expected to more than offset the increase in property taxes for the average homeowner.

Governor Gianforte also changed the property tax system to allow homeowners to pay their property taxes in seven equal installments per year. Previously, homeowners had to pay property taxes in November and May.

In addition to short-term relief, Governor Gianforte has established a Property Tax Task Force to provide long-term solutions to the problem of rising property taxes. Tax authorities have a role to play in responding to rising interest rates and curbing future growth.