FOR IMMEDIATE RELEASE
February 14, 2018
Mary Ann Dunwell, Public Information Officer, MT Dept. of Revenue
(406) 444-6700, MDunwell@mt.gov
Department of Revenue reminds property owners of upcoming important deadlines
HELENA – The Montana Department of Revenue would like to remind owners of real and personal property about several important deadlines approaching soon:
- Business and industrial equipment owners need to report their personal property online with the department’s TransAction Portal (TAP) at https://tap.dor.mt.gov. Businesses have a statutory reporting requirement if their total statewide aggregate market value of equipment is over $100,000. Those businesses whose statewide aggregate market value is $100,000 or less are exempt from taxation and do not have a reporting requirement.
- Livestock owners have to report the number of livestock owned as of February 1 as livestock is subject to the per capita fees set yearly by the Board of Livestock. If you have not reported livestock in the past or you have not received a reporting form in the mail, you can report your livestock online at ReportYourLivestock.mt.gov.
- Nonprofit, religious, or charitable organizations may qualify for a property tax exemption. Applications must be submitted by March 1 to be considered for 2018.
- Home owners may qualify for the Land Value Property Tax Assistance program if the department’s appraised market value of their land is more than 150% of the department’s appraised market value of their home and other improvements on the land.
- The Property Tax Assistance Program (PTAP) provides property tax relief to anyone who meets the qualifications and there is no age restriction. To qualify for this program, taxpayers must own and occupy their home as their primary residence and meet the income requirements which range up to $21,607 for a single person and up to $28,810 for households with more than one owner occupant.
- Montana Disabled Veteran (MDV) Property Tax Relief provides assistance to qualifying 100% disabled veterans and their surviving spouses, and similar to PTAP, taxpayers must own and occupy their home as their primary residence and meet the income requirements which range up to $49,956 for a single person, $57,642 for a married couple, or $43,551 for a surviving spouse.
- The 2EC is a refundable income tax credit of up to $1,000 available to taxpayers based on household income and is for anyone age 62 or older as of December 31, 2017. To qualify, applicants must live in Montana for nine months or more, occupy one or more dwellings in Montana as an owner, renter, or lessee for six months or more, and have a household income less than $45,000 during the year.
For applications and forms, taxpayers are encouraged to go online to revenue.mt.gov or contact a Department of Revenue field office. For questions and more information about qualifications, visit revenue.mt.gov or phone the department’s call center at (406) 444-6900.
Mary Ann Dunwell
Public Information Officer
Montana Department of Revenue
125 N. Roberts, PO Box 5805, Helena, MT 59604-5805