Serving Southern Jefferson County in the Great State of Montana

Things to Know: Montana Elderly Homeowner/Renter Credit Program

The Montana Elderly Homeowner/Renter Credit program is a property tax relief program that provides a refundable income tax credit of up to $1,150.

This credit is subject to the ARPA Savings Clause; therefore, if the savings clause is triggered, the credit will revert to the previous maximum of $1,000. For 2022, however, the clause was not triggered, thereby assuring that the new maximum will be in effect for this year.

Elderly Montana homeowners or renters (age 62 or older) may qualify for this credit even if they do not have to file an income tax return.

You are eligible for this credit if, during the year for which you are claiming the credit, you:

• Are 62 years of age or older as of December 31,

• Lived in Montana for at least nine months,

• Rented, owned, or leased a home in Montana for at least six months, and

• Have a total household income less than $45,000

For tax year 2022, the benefit is a refundable credit on your Individual Income Tax, up to $1,150.

The amount of your credit is calculated by a formula based on household income, rent, and property tax. You may use the Montana Elderly Homeowner/Renter Credit schedule (Form 2, Page 10) to calculate your credit.

If you do not file pages 1, 2, 10, and 11 of the Montana Individual Income Tax Return (Form 2), we will not be able to process your claim.

File your Montana Individual Income Tax Return and claim your Montana Elderly Homeowner/Renter Credit with MTQuickFile in the TransAction Portal for free.

With a Filing Requirement

If you have a Montana filing requirement, you will need to complete the Montana Individual Income Tax Return (Form 2). The Elderly Homeowner/Renter Credit schedule is included on Page 10.

Without a Filing Requirement

If you don’t need to file a return other than to claim the credit, you only need to complete the following parts of the Form 2:

• Use Form 2, page 10 to see if you are eligible for the credit and how much you may receive

• Complete the Elderly Homeowner/Renter Credit Schedule

• Complete the Long-Term Care Facility Rent Calculation Worksheet if applicable.

On Form 2, page 11, enter the amount of your credit on the Other Payments and Refundable Credits Schedule, Line 6

• Fill out Form 2, page 1:

• Complete your filer information and filing status

• Mark your residency

• List any dependents you have

• Mark the “65 or older” box if you were over the age of 65 on December 31 of the tax year

Use the information from any Forms W-2, SSA-1099, or 1099-R you may have received to complete Form 2, page 1:

• Line 1, Line 4a, Line 4c, and Line 5a if applicable. Put the amount of your credit on line 19 and 24.

Fill out your direct deposit or refund information on Form 2, page 2

• Sign your return

• Mail your return to the Montana Department of Revenue, PO Box 6577, Helena, MT 59604-6577

 

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