As we enter the latter half of 2023, direct payments are becoming less frequent. However, certain Americans might still see an increase in their funds later this year.
Over a year has passed since the federal government provided stimulus payments to aid those facing challenges due to the impact of the COVID-19 pandemic and the steep rise in inflation. Since then, citizens have depended on states to distribute government-issued funds through different methods such as rebates, loans, tax refunds, and one-time payments.
During this summer, various states including Alaska, California, Georgia, Maine, Montana, New Jersey, New Mexico, New York, and Pennsylvania have already dispensed payments to their residents. However, as we step into August and most checks have already been sent out, only one state remains with unallocated funds for its residents.
Earlier this year, Montana’s state Legislature designated $899 million for income and property tax rebates in its legislative session. While income rebates in the state have likely been distributed by now, Montana is still in the process of distributing the earmarked $280 million for homeowners.
In Montana, property owners can qualify for a maximum of $675 per year for their 2022 and 2023 property taxes on their main residence.
The definition of a principal residence includes a dwelling that has been owned and inhabited for a continuous period of seven months or more. Even those who changed residences during either year can apply for the rebate, provided they meet the seven-month criteria.
Homeowners are required to apply for the property tax rebate either through the Montana Department of Revenue’s online TransAction Portal or by regular mail.
The application period for the 2022 tax rebate will commence on August 15, 2023, and all claims must be submitted by October 1, 2023. Separate applications need to be made for the 2023 rebate, which will be processed during the 2024 calendar year.
The department website states, “You might receive two mailings regarding the 2022 rebates, in June and August. In June, individuals who owned residential property during the 2022 tax year will receive a postcard about the 2022 rebate.
In August, those who owned residential property during the 2022 tax year will receive a notice containing eligibility details and instructions on how to claim the rebate.”
For further inquiries about the property tax rebate, the department has provided a Frequently Asked Questions page.