Montana Code 15-1-2304. Property tax rebate
15-1-2304. (Temporary) Property tax rebate. (1) A taxpayer that is entitled to a rebate of Montana property taxes paid pursuant to 15-1-2301 through 15-1-2303 may increase the dollar amount limits of the rebates in 15-1-2302(1)(a) and (1)(b) by the bonus amounts provided in subsection (2). In administering the rebate, the department shall add the bonus to the dollar amount limitations for tax year 2022 and tax year 2023 and update any rebate forms to reflect the additional amount.
Terms Used In Montana Code 15-1-2304
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Montana property taxes: means the ad valorem property taxes, special assessments, and other fees imposed on property classified under 15-6-134 that is a single-family dwelling unit, unit of a multiple-unit dwelling, trailer, manufactured home, or mobile home and as much of the surrounding land, not exceeding 1 acre, as is reasonably necessary for its use as a dwelling and that were assessed and paid by the taxpayer as follows:
(a)for tax year 2022, the amount of Montana property taxes assessed and paid is equal to the total amount billed by the local government for the dwelling as shown on the 2022 property tax bill received by the taxpayer; and
(b)for tax year 2023, the amount of Montana property taxes assessed and paid is equal to the total amount billed by the local government for the dwelling as shown on the 2023 property tax bill received by the taxpayer. See Montana Code 15-1-2301
- Property: means real and personal property. See Montana Code 1-1-205
(2)(a) Subject to subsection (2)(d), the amount of the bonus for tax year 2022 is half of the amount provided for in subsection (2)(c).
(b)Subject to subsection (2)(c), the amount of the bonus for tax year 2023 is half of the amount provided for in subsection (2)(c).
(c)The preliminary bonus amount is the quotient of the appropriation in section 6, Chapter 764, Laws of 2023, divided by 284,343.
(d)The department shall round the quotients provided for in subsections (2)(a) and (2)(b) downward to the nearest $1.
(3)The bonus provided for in this section is administered as part of the property tax rebate provided for in Chapter 47, Laws of 2023. Any property tax rebate received that is based on this section is exempt from taxation under this chapter. (Terminates June 30, 2025–sec. 10, Ch. 764, L. 2023.)