Montana SB173 provides income tax relief for property taxes and rent-equivalent taxes, and establishes a workforce renter's tax credit.

Montana SB173 provides income tax relief for property taxes and rent-equivalent taxes paid by residents. It establishes a workforce renter's tax credit for those who pay rent-equivalent taxes, with eligibility based on gross rent being 30% or more of earned income. The bill also allows qualifying teachers to exclude certain income when calculating the credit. It increases the residential property tax credit for the elderly and provides an inflationary adjustment for the income at which the credits phase out.

Montana SB173 provides income tax relief for property taxes and rent-equivalent taxes, and establishes a workforce renter's tax credit.

Montana SB173 provides income tax relief for property taxes and rent-equivalent taxes paid by residents. It establishes a workforce renter's tax credit for those who pay rent-equivalent taxes, with eligibility based on gross rent being 30% or more of earned income. The bill also allows qualifying teachers to exclude certain income when calculating the credit. It increases the residential property tax credit for the elderly and provides an inflationary adjustment for the income at which the credits phase out.