Department of Revenue program and reporting deadlines approach

Submitted by Mary Ann Dunwell, MT Dept. of
Revenue
March 1 deadlines-Business and industrial equipment owners need to report their personal property online with the department’s TransAction Portal (TAP) at https://tap.dor.mt.gov. Businesses have a statutory reporting requirement if their total statewide aggregate mar-ket value of equipment is over $100,000. Those businesses whose statewide aggregate mar-ket value is $100,000 or less are exempt from taxa-tion and do not have a reporting requirement.
Livestock owners have to report the number of livestock owned as of Feb.1 as livestock is sub-ject to the per capita fees set yearly by the Board of Livestock. If you have not reported livestock in the past or you have not re-ceived a reporting form in the mail, you can report your livestock online at ReportYourLive-stock.mt.gov.
Nonprofit, religious, or charitable organizations may qualify for a property tax exemption. Applica-tions must be submitted by March 1 to be consid-ered for 2018.
Home owners may qualify for the Land Value Property Tax Assistance program (PTAP) if the department’s appraised market value of their land is more than 150% of the department’s appraised market value of their home and other improve-ments on the land.
April 15 deadlines-
The PTAP provides property tax relief to any-one who meets the quali-fications and there is no age restriction. To qualify for this program, taxpay-ers must own and occupy their home as their prima-ry residence and meet the income requirements which range up to $21,607 for a single per-son and up to $28,810 for households with more than one owner occupant.
Montana Disabled Vet-eran (MDV) Property Tax Relief provides assistance to qualifying 100% disa-bled veterans and their surviving spouses, and similar to PTAP, taxpayers must own and occupy their home as their prima-ry residence and meet the income requirements which range up to $49,956 for a single per-son, $57,642 for a married couple, or $43,551 for a surviving spouse.
April 17 deadlines_
The 2EC is a refunda-ble income tax credit of up to $1,000 available to tax-payers based on house-hold income and is for anyone age 62 or older as of December 31, 2017. To qualify, applicants must live in Montana for nine months or more, occupy one or more dwellings in Montana as an owner, renter, or lessee for six months or more, and have a household income less than $45,000 during the year.
For applications and forms, taxpayers are en-couraged to go online to revenue.mt.gov or contact a Department of Revenue field office. For questions and more information about qualifications, visit revenue.mt.gov or phone the department’s call cen-ter at (406) 444-6900.