Gasoline Tax: 52.15 cents/gallon (Includes all state, local, and federal taxes)
Diesel Fuel Tax: 54.90 cents/gallon (Includes all state, local, and federal taxes)
Communities designated as resort areas may levy sales tax up to 3%.
Personal Income Tax
Personal Income Tax Rate Range: Two brackets from 4.7% to 5.65% on income greater than $47,500.
Standard deduction: Single Filers: $16,100. Subject to phase-out.
Personal Exemption Allowance: None
Itemized Deductions Allowed? Yes, subject to limitations
Retirement Income
Social Security: Taxes the same amount of Social Security that is taxed on your federal return.*
IRAs: Taxes the same amount that is taxed on your federal return.*
401Ks/Defined contribution employer retirement plans: Taxes the same amount that is taxed on your federal return.*
Private pensions: Taxes the same amount that is taxed on your federal return.*
Public Pensions: Taxes the same amount that is taxed on your federal return.*
Military Pay
Active Duty Pay: Certain pay types are exempt.
Military Retirement Pay: Taxable at ordinary income tax rates. Resident working military retirees may claim an exemption on the lesser of 50% of their military retirement income or the amount of Montana source income (full details).*
Military Disability Pay: Exempt
VA Disability Dependency & Indemnity Compensation Benefits: Exempt
SBP/SSBP/RCSBP/RSFPP: Up to 50% may be exempt. Some exceptions apply.
*Retirement income of up to $5,500 may be exempt if 65 or over.
Property Tax
Local municipalities average 0.72% of the property's assessed value.
Calculation of assessed value: 100% of fair market value, appraised every two years.
Relief programs for:
Owner-Occupied: State reduced tax values to reduce impact of home-value increases.
Low-Income Owner-Occupied: Taxes can be reduced up to 80% if meet income and other requirements.
Over 62: Credit of up to $1,150 if meet income and residency requirements.
Disabled Veterans and First Responders/Surviving Spouses: Up to 100% tax credit if meet income requirements.
Land Value: Assistance available if land value is disproportionally higher than home value.
Personal Property Tax: Yes. Rates and exemptions vary.
Premium and Life members can consult our financial staff for education and consumer advice.
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