Bill > HB906

This bill provides a property tax rebate for Montana residents for tax year 2024, modifying previous legislation that offered rebates for tax years 2022 and 2023. The bill reduces the maximum rebate from $500 to $319 (or the total property taxes paid, whichever is less) for a principal residence. To qualify, taxpayers must own and occupy the property as their primary residence for at least 7 months of the tax year, and the property must be limited to 1 acre or less. Claimants must submit their rebate application electronically or by mail between August 15 and October 1, providing personal information and property details. The bill also specifies that only one rebate will be issued per taxpayer, and the Department of Revenue will mail notices to potential claimants by June 30, 2025. Additionally, the bill allows for interest earnings from the capital developments long-range building program account to be used for property tax rebates in the fiscal year ending June 30, 2025. The legislation extends the termination date of the property tax rebate program from June 30, 2025, to June 30, 2026, and becomes effective immediately upon passage and approval.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC4310