The Ekalaka Eagle - Your Community Builder

One of my top priorities this legislative session has been to provide financial relief to Montana taxpayers as families throughout our state are struggling with inflation and the high cost of living.

I’m happy to report we have already accomplished a lot on that front. With the first-ever Republican supermajority in the Legislature this session, we have passed legislation to return $764 million dollars from the state budget surplus to taxpayers via income and property tax rebates. These rebates were signed into law by Governor Gianforte on March 13th.

Income tax rebates rebates—up to $1,250 per person or $2,500 for married couples filing taxes jointly, depending on how much you paid in taxes—will be issued automatically by the Department of Revenue. The first $500 property tax rebate will need to be applied for later this year, and the second $500 property tax rebate will need to be applied for again next year. Property tax rebates are not being issued automatically because we’ve only authorized them to go to Montanans paying taxes on their primary residences. Out-of-state homeowners and people with more than one house in Montana won’t get the rebates. To learn more about how to receive your rebates, go to: https://mtrevenue.gov/taxes/2023-montana-tax-rebates/

With high inflation and the increasing cost of housing, these rebates are coming at a time when Montanans need them the most. But we haven’t just passed one-time rebates at the Legislature; we’re also providing long-term, ongoing tax relief. We’ve passed a bill reducing Montana’s top income tax rate from 6.5% to 5.9% and increasing the earned income tax credit from 3% to 10%.

We also more than tripled the exemption from the state’s business equipment tax, exempting the first $1 million of equipment. This change removes the tax from nearly all farms and ranches and other small businesses in the state.

Further relief will be provided for Montana-based corporations. Corporate income taxes will be revised to “single sales factor,” simplifying corporate taxes, reducing taxes on companies located in Montana, and slightly raising taxes on out-of-state giants like Amazon. The net result is Montana companies being put on an even playing field with out of state corporations.

We have made a lot of progress but our work here is not done yet. For the rest of this session I will remain focused on making government smaller and less intrusive in our lives.

Sen. Ken Bogner, R-Miles City, is the President Pro Tempore of the Montana Senate and a veteran of the United States Marine Corps.