MT HB154

Creates a new "Housing Fairness Property Tax Credit" as an income tax credit for Montana residents who pay property taxes on a primary residence or pay rent (with 15% of gross rent treated as rent-equivalent property tax)

Credit amount equals 75% of property tax billed or rent-equivalent tax paid, minus a threshold amount based on household income ranging from 1% on the first $20,000 of income up to 9.5% on income above $100,000

Eligibility requires Montana residency for at least 9 months, occupancy of a qualified residence for at least 7 months, and household income under $150,000

Taxpayers may claim either this new credit OR the existing residential property tax credit for the elderly, but not both; properties receiving the intangible land value exemption are also ineligible for property tax assistance programs

Effective January 1, 2026, applying to property taxes billed after December 31, 2025