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By Suzanne Blake
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About half a million Americans may be able to apply for a rebate of up to $675 in days.
On August 15, Montana's property tax rebate application is set to open, but residents must match a certain set of criteria to qualify for the payment.
While federal stimulus checks ended after the pandemic, many states still offer rebates to homeowners, seniors and low-income residents.
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In Montana, the property tax rebate benefits all homeowners, who can apply via the state's website.
"With the cost of homeownership and renting seeing substantial increases over the last few years, a property tax rebate is coming at a great time for Montana's taxpayers who need a boost to their bottom line," Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek. "The rebate qualifications are easier to meet than those of other states."
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Anyone applying for the rebate will need their Social Security number and, if applicable, those of their spouse and dependents.
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They will also need the geocode for their principal residence for 2023 and the amount of property taxes they paid. This is listed on the 2023 principal residence property tax bill.
The checks are expected to be sent via mail after residents reported issues with scammers targeting their direct deposit accounts last year.
"What we found out from last year was that we have some fraudsters who are trying to take advantage of people, so direct deposit was an area of concern, and we don't want to deal with fraudsters. That's why we have chosen to mail you your rebate," Jason Slead, the communications director at the Montana Department of Revenue, told local station KGVO.
"Perhaps the only pitfall to this isn't in the amount taxpayers could receive, but how they will receive it," Beene said. "Due to concerns over fraud, rebates will not be issued via direct deposit and will only be made by check. For those who qualify, they'll want to keep an eye on their mailbox instead of their banking app as to when the payment arrives."
The exact amount a recipient gets from the rebate depends on the property taxes they paid. The state said the rebate is $675 or an amount not to exceed the property taxes paid on the residence in 2023.
So if someone paid $425 in property taxes, they'd earn $425 as a rebate. Meanwhile, those who paid more than $675 would get $675.
Eligible residences include single-family units, apartments, condos, trailers, manufactured homes and mobile homes.
However, applicants must have owned a Montana residence for at least seven months in 2023 and lived there for at least seven months. They must also have paid property taxes.
All applications for the rebate must be filed by October 1. The state said residents can expect their rebates to be issued within 30 days of submitting an application.
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