In 2023, nearly all Montana property owners saw a significant hike in their property tax due to a re-appraisal. In the past, the MT Department of Revenue performed re-appraisals every six years. However, several years ago the timeframe changed to have properties re-appraised every two years. That coincided with the significant increase in property values seen around the State in 2020, 2021 and beyond. While owners were made aware of the potential for a significant jump in the home value used to calculate the property taxes, no one was prepared for the fact that the State, County, and City budgets weren't adjusted to account for the increase. That caused an average jump of more than 21% in property taxes throughout the state, and as much as 80% in parts of Big Sky and Bozeman.
While everyone agrees it is time to overhaul the process so this doesn't happen again, it will take time to accomplish sweeping changes. In the meantime, for permanent residents of Montana, there is a small amount of relief coming in the way of a tax rebate. Beginning on August 15, 2024, residents who owned and resided in their homes for at least seven months in 2023, and who paid a total of more than $675 in property taxes, can apply to receive a $675 rebate.
To apply for your rebate, visit the link below and make sure to have the following information on hand:
1. Visit getmyrebate.mt.gov to begin the process of applying for the property tax rebate.
2. Social Security numbers for owners and dependents living in the household.
3. The Geocode for your property. Visit Montana Cadastral and search by Owner Name to find your Geocode.
Properties that are owned by an entity, such as an LLC or Corporation, and Irrevocable Trusts are not eligible to receive the rebate, even if it is a primary residence.
All claims must be filed by October 31, 2024, so don't wait to apply.
If you need assistance or have questions, feel free to reach out to me!
