Montana Sample Letter for Exemption of Ad Valorem Taxes
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Any person, firm, corporation, partnership, association, or other group who wants Real or Personal Property qualified as tax exempt must submit an application to the Department of Revenue.
For Montanans who turned 62 or older in 2021, the Elderly Homeowner/Renter Tax Credit can bring up to $1,000.
The amount of the Montana personal exemption from individual income tax is adjusted annually for inflation ( MCA 15-30-2114(6)) The personal exemption amount is: 2022 tax year: $2,710. 2021 tax year: $2,580. 2020 tax year: $2,560.
Property Tax Assistance Program (PTAP) will reduce your tax obligation if you meet the following income guidelines: $24,607 or less for a single person or $32,810 or less for a married couple (2021 FAGI).
The Montana Property Tax Rebate provides qualifying Montanans up to $675 of property tax relief on a primary residence in both 2023 and 2024. The qualifications to claim the rebate are at GetMyRebate.mt.gov.
The Property Tax Rebate is a rebate of up to $675 per year of property taxes paid on a principal residence. There is a rebate available for property taxes paid for Tax Year 2022 and another rebate available for property taxes paid for Tax Year 2023.
What Property Is Protected by the Montana Homestead Exemption? Montana has one of the more generous exemptions. You'll be able to protect up to $378,560 of equity in a residence, including your home, condominium, or any other dwelling and appurtenances.
Montana doesn't have a state sales tax, or similar. Therefore, an exemption certificate is not applicable.
