HELENA – The Montana Department of Revenue would like to remind owners of real and personal property about these upcoming important deadlines:
March 1
• Personal Property
By March 1, business and industrial equipment owners are required 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 $300,000.
Businesses whose statewide aggregate market value is $300,000 or less are exempt from the business equipment tax. These businesses will not have a reporting requirement in 2022 unless: (1) they have acquired new personal property that would increase their equipment’s aggregate market value above the exemption amount; or, (2) the department requests a personal property reporting form be completed.
• Livestock
By March 1, livestock owners are required to report the number of livestock owned as of February 1. Livestock is subject to the per capita fees set yearly by the Board of Livestock. Report online with the department’s TransAction Portal (TAP) at https://tap.dor.mt.gov.
• Real or Personal Property Tax Exemption
Nonprofit, religious, or charitable organizations and other tax-exempt entities may qualify for a real or personal property tax exemption, based on the specific use of the property.
If you feel your organization may qualify, Property Tax Exemption applications must be submitted by March 1 to be considered for Tax Year 2022.
• Land Value Property Tax Assistance Program
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 percent of the department’s appraised market value of their home and other improvements on the land. Applications are due by March 1 to be considered for the 2-year valuation cycle.
April 15
• Property Tax Assistance Program
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 $23,385 for a single person and up to $31,181 for households with more than one owner occupant. Applications are due by April 15 for Tax Year 2022.
• Montana Disabled Veteran Property Tax Relief
Montana Disabled Veteran (MDV) Property Tax Relief helps qualifying 100 percent disabled veterans and their surviving spouses
Similar to PTAP, taxpayers must own and occupy their home as their primary residence and meet the income requirements, which range up from $54,067 for a single person, $62,385 for a married couple, to $47,136 for a surviving spouse. Applications are due by April 15 for Tax Year 2022.
For applications and forms, taxpayers are encouraged to go online to MTRevenue.gov or contact a Department of Revenue field office.
For questions and more information about qualifications, visit MTRevenue.gov, call us at (406) 444-6900, or use the Montana Relay at 711 for the hearing impaired.
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