The Montana Department of Revenue would like to remind owners of real and personal property about several important deadlines approaching soon:
March 1 Due Date
- Business and industrial equipment owners must report their personal property online using the department’s TransAction Portal (TAP). 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 2023 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 owners must 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. Report online using the department’s TransAction Portal (TAP) at https://MTRevenue.gov/livestock.
- 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 2023.
- Homeowners 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.
April 15 Due Date
- 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.
- Montana Disabled Veteran (MDV) Property Tax Relief helps qualifying 100 percent disabled veterans and their surviving spouses. Like PTAP, taxpayers must own and occupy their home as their primary residence and meet the income requirements to qualify for tax relief.
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 revenue.mt.gov, or call us at (406) 444-6900, or Montana Relay at 711 for hearing impaired.