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(1) The 2007 Legislature enacted a refundable credit against individual income tax that is calculated on the tax paid on $20,000 of market value of a taxpayer's principal residence multiplied by a "relief multiple" that is zero unless changed by the Legislature. The 2007 legislation provided a method for determining the credit for 2007. The 2009 Legislature amended the statute to remove the reference to the 2007 calculation but did not enact legislation changing the relief multiple, which remains at zero so that no credit is available for any tax year except 2007 at this time.

(2) When taxpayers change principal Montana residences during the tax year for which the credit is claimed, the department may consider the ownership and occupancy of the successive residence as a principal residence when determining whether they qualify for the seven month minimum term of residence for the property tax credit as provided in 15-30-2336, MCA.

(3) For the successive residence to be considered as a principal residence for purposes of a minimum term of residence for the property tax credit as stated in 15-30-2336, MCA, the taxpayer or taxpayers must, during the tax year:

(a) move out of the primary principal residence in Montana and into the successive principal residence in Montana; and

(b) have paid Montana property taxes on either or both residences for at least seven months.

(4) The taxpayer or taxpayers may only make a claim for a credit under 15-30-2336, MCA, for one of the residences.

(5) Ad-valorem taxes and fees paid for trailers and other recreational vehicles do not qualify for this credit.

History: 15-1-201, 15-30-2104, 15-30-2636, MCA; IMP, 15-1-201, 15-30-2636, MCA; NEW, 2008 MAR p. 58, Eff. 1/18/08; AMD, 2010 MAR p. 1211, Eff. 5/14/10.

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