Gasoline Tax: 51.65 cents/gallon (Includes all state, local, and federal taxes)
Diesel Fuel Tax: 54.70 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: Seven brackets from 1.0% to 6.75% on income greater than $18,800.
Standard deduction: Single Filers: $4,830. Married Filing Jointly: $9,660. Subject to phase-out.
Personal Exemption Allowance: $2,580. Dependent Exemption: $2,580
Itemized Deductions Allowed? Yes, subject to limitations
Social Security: Some or all may be taxable*
IRAs: Taxable at ordinary income tax rates*
401Ks/Defined contribution employer retirement plans: Taxable at ordinary income tax rates*
Private pensions: Taxable at ordinary income tax rates*
Public Pensions: Taxable at ordinary income tax rates*
Active Duty Pay: Exempt, except for salaries for training or National Guard under certain circumstances.
Military Retirement Pay: Taxable at ordinary income tax rates*
Military Disability Pay: Exempt
VA Disability Dependency & Indemnity Compensation Benefits: Exempt
SBP/SSBP/RCSBP/RSFPP: Taxable to the extent included in federal Adjusted Gross Income (Exempt for survivors receiving death benefits from Montana National Guard member killed in action)
Income Tax Comments: *Retirement income of up to $4,400 may be exempt if federal AGI less than $38,900 ($41,100 married filing jointly). Federal income tax deductible (limited to $5,000). $800 exempt if 65 or older. Income tax rate may increase back to 6.9% if receipt of state's American Plan Rescue Act funds is jeopardized.
Local municipalities average .84% of the property's assessed value.
Calculation of assessed value: 100% of fair market value, appraised every two years.
Relief programs for:
Owner-occupied: Taxes can be reduced up to 80% on the first $200,000 of the assessed value if income is less than $23,385 ($31,181 if married filing jointly).
Over 62: Credit of up to $1,150 if meet income and residency requirements.
Disabled Veterans/Surviving Spouse: Up to 100% tax credit if income less than $54,607 ($62,385 if married filing jointly).
Personal Property Tax: Yes. Rates and exemptions vary.