Due to the loss of the economy during COVID-19 and the war in Ukraine, Montana Governor Greg Gianforte enacted an SSDI property tax rebates program. It relieves homeowners, but renters are left holding the bag for the increasing living expenses. For homeowners, the Medical expense deduction allows a deduction of $675. Still, not everyone can get this rebate.
Eligibility criteria: If you meet these requirements, you get an extra payment this month
To be eligible for the $675 stimulus payment, homeowners must meet several conditions. They must have owned the home for at least seven months in the 2023 tax year, and it has been their residence. It is important to note that the house must be the client’s residence.
They must have made property tax returns for that home in 2023. This rebate is only for people who paid property taxes, as evidenced by the passage extracted from the bill. If a trust or any other entity owns the home, it will not be eligible for this rebate. Also, tenants are cut out of this advantage.
How homeowners can apply for the $675 property tax rebate in Montana
It will be possible to offset the rebate against the property taxes for the year on the individual’s principal residence up to the said threshold. For instance, if you spend $300 in property taxes, the government will refund you $300. However, there is a limit here — if you contributed more than $675, then the maximum rebate can reach $675, no matter how significant the overall amount of tax in the state is.
Applying for the rebate is easy, but the Montana Department of Revenue has listed some qualifying factors that must be met. These homeowners must submit their claims to this rebate no later than the 1st of October, 2024. The rebate will be forfeited if the claim is not submitted by this date.
When homeowners should expect to receive their $675 stimulus payment
The rebate can be claimed in two ways:
- Online Filing: This is the recommended method because it is more efficient than the other one. Those who file online can be assured of having the rebate processed and issued within about 30 days of filing the same. The filer has to complete an online form on the Montana Department of Revenue website.
- Paper Filing: Forms submitted online are processed electronically and fast. While application forms are also available, they are also available for thought. Paper claims will take up to 90 days to process, starting when the claims are submitted. This will be more acceptable, especially to people not conversing with online systems, although the downside is that it will take longer.
The most frequently asked question from Montana homeowners who qualify is how long it will take to expect the money for the $675 rebate. The time taken to pursue the claim depends on the procedure for filing the claim. In the case of online filing, the time is slightly shorter, and in fact, rebates are issued within 30 days. As indicated, this method is more efficient than the first one because it is easier for most homeowners to track the claim.
For paper filers, it takes slightly longer, depending on the volume of applications processed by the authorities, and it takes up to 90 days. This is because physical forms are processed manually and take longer than online forms.
Also, more claims exist at the Department of Revenue level, meaning there could be further delays due to the large number of claims. In particular, one can observe that the elaboration of credit-eligible costs, waste fats, and decisions on appeals to the Home Owners’ Loan Act take longer sometimes, and the homeowners are advised to file for them online where possible.
