HELENA – 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 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 market value of equipment is over $1 million.
Businesses whose statewide market value is $1 million or less are exempt from the business equipment tax. These businesses do not have a reporting requirement in 2024 unless: (1) they have acquired new personal property that would increase their equipment’s statewide market value above the exemption amount; or (2) the department requests a personal property reporting form be completed.
• Livestock owners have to 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 with the department’s TransAction Portal (TAP) at https://MTRevenue.gov/livestock.
• Home owners 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.
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.
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