Personal Property


Personal Property Includes:

Personal property is primarily class eight property, as described in 15-6-138, MCA, and is assessed on its statewide aggregate market value. A taxpayer's class eight property's statewide aggregate market value is the combined value from all of the taxpayer's personal property locations throughout the state. Values are aggregated by taxpayer ID. 

When the department identifies a parent company with an ownership interest of 50 percent or more in another entity, the personal property market value is aggregated at the parent company level by the parent company's taxpayer ID.

Unless otherwise specified by law or administrative rule, the department calculates the taxable market value by applying a trended percent good to the acquired cost of each personal property asset. You can find detailed descriptions of the department's personal property valuation methods in Chapter 42.21 of the Administrative Rules of Montana.

In Tax Year 2024, Montana exempts the first $1 million of a taxpayer's statewide aggregate market value of class eight property. This is the exemption threshold. The next $6 million of a taxpayer's statewide aggregate market value is assessed at a 1.5 percent tax rate. This is the tax rate adjustment threshold (TRAT). Any remaining portion of a taxpayer's statewide aggregate market value greater than the tax rate adjustment threshold is assessed at a 3.0 percent tax rate.

See the Montana Personal Property Assessment Fact Sheet for more details.

Personal Property Depreciation Schedules and Trend Tables

We use the Personal Property Depreciation Schedules and Trend Tables to value taxable tangible personal property.

Personal Property Reporting

Personal property you own, possess, or control at midnight on January 1 may be taxable for that year and must be reported, per 15-6-138, MCA and ARM 42.21.158.

Please note: property that has been fully expensed, or depreciated out, for income tax purposes is still taxable for property tax purposes and must be reported.

If you reported personal property in the previous year and we determined your statewide aggregate market value is close to or exceeds the $1,000,000 exemption threshold, we will send you a letter in January reminding you to report your personal property through the department's TransAction Portal (TAP).

March 1 is the personal property reporting deadline each year. Reports not completed or completed after the deadline are assessed a penalty equal to 20 percent of the depreciated personal property taxable market value.

One of our employees might visit your business, agricultural operation, or field site to make sure our information is accurate and to answer your questions.

The department has created helpful tutorial videos to assist you in reporting your business equipment on TAP:

    Personal Property Reporting (PPR) Videos:

Part 1: Creating a TAP login

Part 2: Changing contact information

Part 3: Changing and adding properties

Part 4: Completing your online reporting

    Industrial Property Reporting (IPR) Videos:**

Part 1: Creating a TAP login

Part 2: How to Access the Industrial Property Reporting and update your account

Part 3: How to update and add a property

Part 4: How to update your general ledger building, construction or demolition of equipment

Part 5: How to filter, update, delete, transfer and add an asset

Part 6: How to add an attachment

Part 7: How to submit, withdraw, and edit your return

** Attention new business owners and first-time reporters: You will not be able to report your business equipment using the
     department's TransAction Portal (TAP) because a Montana Account ID for personal property reporting does not exist for you.

New For 2024: If reporting personal property for multiple counties throughout Montana, all locations have been combined under one account ID. You will no longer file a separate report for each county where you have property located when reporting online.

Please contact your local Department of Revenue field office. We will work with you to determine if you have a reporting requirement and also guide you through completing a paper reporting form, if you do have a reporting requirement.


Montana Personal Property Data Report

Property.mt.gov lets you download personal property data for groups of properties under one taxpayer ID, called an aggregation group. Please read our Montana Personal Property Data Report Guide (PDF, 414 KB) for more information on how to download summarized information for all of the personal property records that make up an aggregation group.

Special Mobile Equipment Permits 

Special mobile equipment means a vehicle not designed for the transportation of persons or property on the highways but incidentally operated or moved over the highways, including road construction or maintenance machinery, ditch-digging apparatus, and well-boring apparatus. 61-1-101, MCA

A motor vehicle or trailer designed and used to apply fertilizer to agricultural land must be treated as special mobile equipment. 61-10-206, MCA

A person, firm, partnership, or corporation that owns, leases, or rents special mobile equipment, a motor vehicle or trailer designed and used to apply fertilizer to agricultural land, or a log loader and that occasionally moves that equipment on, over, or across the highways of the state must annually obtain a special mobile equipment decal prior to moving the equipment on the highways.

Special mobile decals expire on December 31 of each year. If the expired decal is displayed, the owner is entitled to operate the equipment between January 1 and February 15 following expiration without displaying the identification decal or receipt of the current year. 61-3-431, MCA

Note: The county treasurer may add a three percent motor vehicle tax ($0.15 cents) for each $5.00 permit decal purchase.

In-State Special Mobile Equipment Instructions

To obtain the permit decal, complete the Special Mobile Equipment Reporting Form and submit it to the county treasurer’s office with the $5.00 payment. Note: All information requested in the reporting table must be provided. A separate asset data spreadsheet may be attached to the form in lieu of filling out the reporting table, provided the spreadsheet includes all of the information requested.

Migratory Special Mobile Equipment Instructions

Personal property brought into Montana any time during the year is subject to taxation in the county in which it is located.

For migratory special mobile equipment brought into the state of Montana, the personal property taxes assessed for the equipment must be paid to the county treasurer before the $5.00 permit decal may be issued. Montana prorates the property tax based on the number of calendar months remaining when the property enters the state.

Follow these steps:

1. Complete the Special Mobile Equipment Form. All information requested in the reporting table must be provided. A separate asset data
      spreadsheet may be attached to the form in lieu of filling out the reporting table, provided the spreadsheet includes all of the
      information requested.

2. Submit the completed form to the Department of Revenue field office servicing the county where the special equipment is first used.
     Contact information for the department’s field offices can be found at mtrevenue.gov/contact/field-office-locations/.

     Department of Revenue field office staff will calculate the taxable value and tax amount due for each piece of special mobile equipment
     and send the information to the county treasurer's office.

3. Pay the personal property tax due and purchase the $5.00 permit decal by visiting the county treasurer’s office in the county where the
     equipment is first used.

Property Tax Refund Application

Personal property that leaves the state during the same calendar year might be eligible for a prorated property tax refund. You can get a personal property tax refund form from the field office servicing the county where the equipment was used.

You must submit the application to the county commissioners of the county where we assessed the property and where you paid the personal property tax.

Paying Personal Property Tax

The elected county treasurer in each county bills and collects personal property tax. 

The Department of Revenue does not bill or collect personal property tax.