Montana legislation · 2025 Regular Session
Montana SB173: Provide income tax relief for property taxes paid
Status: Failed, May 23, 2025
What the bill says
A bill for an act entitled: "an act providing property tax relief for residential property taxes paid; providing for a workforce renter's tax credit for rentequivalent taxes paid; providing that a qualifying teacher may exclude certain income when calculating the credit; providing eligibility requirements; increasing the residential property tax credit for the elderly; providing an inflationary adjustment for the income at which the credits phase out; amending sections 15-302303, 15-30-2337, 15-30-2340, and 53-4-1103, mca; repealing sections 4, 5, 9, and 10, chapter 476, laws of 2021…
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT PROVIDING PROPERTY TAX RELIEF FOR RESIDENTIAL PROPERTY TAXES PAID; PROVIDING FOR A WORKFORCE RENTER'S TAX CREDIT FOR RENTEQUIVALENT TAXES PAID; PROVIDING THAT A QUALIFYING TEACHER MAY EXCLUDE CERTAIN INCOME WHEN CALCULATING THE CREDIT; PROVIDING ELIGIBILITY REQUIREMENTS; INCREASING THE RESIDENTIAL PROPERTY TAX CREDIT FOR THE ELDERLY; PROVIDING AN INFLATIONARY ADJUSTMENT FOR THE INCOME AT WHICH THE CREDITS PHASE OUT; AMENDING SECTIONS 15-302303, 15-30-2337, 15-30-2340, AND 53-4-1103, MCA; REPEALING SECTIONS 4, 5, 9, AND 10, CHAPTER 476, LAWS OF 2021; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE AND A RETROACTIVE APPLICABILITY DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: NEW SECTION. Section 1. Workforce renter's tax credit -- certain income of teacher exempt. (1) There is a workforce renter's credit against the taxes imposed by this chapter for a person under 62 years of age with gross household income of less than $45,000 who pays rent-equivalent property taxes as provided in this section. (2) Except as provided in subsection (3), the eligibility, application, and limitation provisions of 1530-2338, 15-30-2339, and 15-30-2341 that apply to renters, excluding the age requirement, apply to the workforce renter's credit. (3) To qualify for the credit under this and (b) the claimant may not reside in a deed-restricted apartment or a rented dwelling that is not …