Income and Property Tax Relief: Montana’s $675 Rebate for 2023 Explained

The state of Montana is introducing Tax Rebates in August 2023. These rebates will be distributed to residents through both mail and direct deposits. If you receive a payment or check, there’s no need to worry. It’s intended to provide assistance during the month.

Montana, which is under Republican control, has established a Legislature to benefit its residents, amounting to a significant sum of $889 million in total.

This money is allocated for income and property tax rebates. Governor Greg Gianforte approved this legislation, and homeowners can anticipate receiving these rebates in August. As a taxpayer in Montana, here’s what you need to know.

What’s the Montana resident rebate for 2023?

If you were a Montana resident throughout the previous year and you timely paid your state taxes for both 2021 and 2022, you qualify for a rebate of up to $675, provided you meet the criteria. If you fulfill the requirements but your 2022 payment was under $1,250, you’ll receive a full refund of your payment.

This cap of $1,250 applies to single taxpayers. Married couples who filed jointly could be eligible for double that amount. Montana isn’t the only state implementing these individual tax rebate payments in August; several other states are also distributing cash in a similar manner.

Five additional states are issuing tax rebates and special session rebates from now until 2024. These states include Idaho, Illinois, Massachusetts, Montana (as mentioned), and New Mexico. In Montana, these rebates started being distributed in July and will continue based on the order of applications.

This program will run until December 31, 2023. Eligible individuals can claim these tax rebates on the state’s TransAction Portal. Alternatively, they can complete a paper form starting from August 15. Claims for the 2023 rebate will be accepted until August 15, 2024, with the submission deadline being October 1 of the same year.

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