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Post by Poor Richard on Mar 22, 2023 19:09:50 GMT -7
What to know about new Montana income and property tax rebates KBZK reports "The Montana Department of Revenue has created a website to update Montanans on recently passed income tax and property tax rebates.
The two tax rebates were signed into law by Governor Greg Gianforte last week.
The individual income tax rebate is $1,250 for individual filers and $2,500 for married couples filing jointly. The money comes from House Bill 192, which set aside $480 million of the surplus to provide income tax rebates
The income tax rebate is for taxes paid in 2021. Individuals eligible shouldn’t have to do anything to claim the rebate and the department plans to begin issuing the income tax rebates in July.
The Property Tax Rebate is a rebate of up to $500 a year of property taxes on a principal residence paid for 2022 and 2023. Individuals should check eligibility and will have to apply for the rebate online or with a paper form. Taxpayers may claim the 2022 rebate online through our TransAction Portal or by paper form beginning August 15, 2023. The claim must be filed by October 1, 2023. For 2023, taxpayers will do the same process but applications will not be accepted until August 15, 2024. The claim must be filed by October 1, 2024.
Money for the property tax rebates comes from House Bill 222 which uses another $280 million of surplus dollars."
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Post by dorothykeeler on Mar 23, 2023 11:07:39 GMT -7
Thanks for the info, Tim. It's appreciated!
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