August 2023 Direct Payments: State-wise Distribution of $675 Tax Rebates


August will see the arrival of additional tax rebates. It is accomplished through direct disbursements of $675, but not everyone is eligible to receive them because it depends on the state. In Montana, these tax rebates are on the horizon, and householders can anticipate both short- and long-term property tax relief. 

Two new laws stipulate that eligible Montana homeowners will receive two distinct property tax rebates and long-term property tax reduction. During the most recent session, Governor Greg Giaforte secured a contract worth over $470 million. These tax rebates are a tremendous benefit for all Montana residents who are eligible to receive them.

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Maximizing Property Tax Rebates in Montana 

Photo by: Idaho Statesman via East Idaho

Both of these assets reimbursements in Montana will have a combined utmost value of $675 and will be accessible to qualifying residents.  One of these rebates applies to property taxes paid in 2022, while the other applies to taxes paid in 2023. Due to the fact that a homeowner’s property tax rebate cannot exceed the amount of taxes paid during the tax year, some homeowners may receive lesser refunds. This is why the maximum sum they can receive is $650, even if they paid more. As an example, if they paid $500 in property taxes, they will receive a $500 rebate. If they paid $1,100 in property taxes, they are entitled to a maximum rebate of $650.

To qualify for a property tax rebate, you must satisfy all requirements. Beginning with those who have owned and resided in a Montana home for at least seven months. They must have had property taxes assessed on the home. Additionally, you must have previously paid the assessed property taxes on the home. Starting on August 15, eligible homeowners can claim this benefit through the state’s TransAction Portal or on paper. You have until October 1, 2023 to file for a tax refund for 2022. Proposals for 2023 property tax rebates will not open until August 2024.

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Source: Marca

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