Elderly Homeowner/Renter Credit

State

Montana

Year

2007

Variations in Receipt of Benefit

Benefit Varies with Income

Minimum Tax Amount Must be Paid

Benefit Type

Circuit Breaker

Benefit

Benefits are determined by 11 thresholds ranging from a 0.6% for income from $2,000 to $2,999, to 5% for income $12,000 and over. There is a co-payment requirement of 60% to 100% of relief for claimants with incomes of $35,000 and up. The maximum benefit is $1,000.

How is Benefit Disbursed

Credit to the income tax bill

Eligible Property Type

Residential

Eligibility Criteria

Age

Homeowner

Income Ceiling

Renter

Description of Eligibility Criteria

Eligible claimants must have reached age 62 or older during the claim period for which relief is sought; and must have resided in Montana for at least 9 months of that period; and must have occupied one or more dwellings in Montana as an owner, renter, or lessee for at least 6 months of the claim period; and must have less than $45,000 of gross household income.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

No local option regarding program features

State Funding for Local Tax Loss

State reimburses all of the local government tax loss

Description of State Funding for Tax Loss

The state provides a refundable income tax credit. Applicants who do not file income tax returns can submit a separate application form and will receive a payment directly from the state.

Enrollment Data

The state received 16,108 claims costing $7,606,510.

Record ID

MT104_RR07

Footnotes

A person is not disqualified as a claimant if the person changes residences during the claim period, provided that the person occupies one or more dwellings in Montana as an owner, renter, or lessee for at least 6 months during the claim period.

Sources

Mont. Code Ann. § 15-30-171 ~ 15-30-179 (in effect for 2007)
2008-2010 Biennial Report, Tax Expenditures (2011), Montana Department of Revenue, p. 250 [http://revenue.mt.gov/publications/biennial_reports/default.mcpx Accessed on 4/11/11] View Archived Source

Join Our Mailing List

Back to top