Montana Form ABATE is an application used to request a property tax abatement for manufacturing machinery, fixtures, and equipment. This abatement is intended to provide tax relief to businesses that install qualifying manufacturing equipment after meeting certain criteria, such as project plans, construction blueprints, and detailed equipment lists. The form allows applicants to seek tax exemptions for machinery and equipment used in manufacturing processes, reducing their property tax liability for a set period. The abatement is approved by the local governing body and can vary from 80% to 100% based on the project and its qualification. This form must be submitted to the local governing body for approval, followed by submission to the Montana Department of Revenue for processing.
How to File Montana Form ABATE?
To file Form ABATE, complete the application with all required details, including project information, construction dates, and a comprehensive project plan. Submit the completed application to the local governing body for review. The local government will decide whether to approve the application and determine the percentage of the tax abatement. After approval, a copy of the application and the resolution must be sent to the Montana Department of Revenue within 30 days.
How to Complete Montana Form ABATE
1. Applicant Information
- Applicant Name: Enter the name of the applicant (individual or business) requesting the property tax abatement.
- Property Address: Provide the address of the property where the manufacturing machinery, fixtures, and equipment are located.
- Mailing Address: Enter the mailing address for the applicant, including city, state, and ZIP code.
- City, County, State ZIP: Fill in the details for the city, county, state, and ZIP code associated with the project.
- Email and Contact Phone: Provide your email address and phone number for follow-up communication.
2. Project Details
- Project Plan: Indicate if a project plan is included with the application. A project plan must include site plans, construction blueprints or CAD files, and a detailed list of equipment with installation costs, installed date, and placed-in-service date.
- Project’s Estimated Cost: Enter the total estimated cost of the project, including all machinery, fixtures, and equipment.
- Construction Dates: Provide the construction commencement date and estimated construction completion date for the project.
3. Abatement Request
- Abatement on All Equipment: Indicate whether you are applying for an abatement on all the manufacturing machinery, fixtures, and equipment identified in the project plan. If not, explain the reason and identify the specific items for which you are requesting an abatement.
- NAICS Code: Provide the NAICS code for the property related to the manufacturing process.
4. Applicant Signature
- Signature of Applicant: The applicant (or authorized representative) must sign and date the form, affirming the accuracy of the information provided.
- Printed Name: Print the name of the applicant or authorized representative.
5. Submission Requirements
- Local Governing Body Approval: The form must be submitted to the local governing body of the county where the property is located. The governing body will review the application and determine whether the abatement will be granted at 100%, 90%, or 80%. The decision should be made within 120 days of receiving the application.
- Public Hearing: The local governing body is required to hold a public hearing and publish a notice within 60 days of receiving the application. Ensure this is scheduled and documented.
6. Resolution and Reporting
- Resolution Submission: After the local governing body approves the tax abatement, a resolution describing the manufacturing machinery, fixtures, and equipment that qualifies for the abatement must be sent to the Montana Department of Revenue.
- Submit to Department of Revenue: Send the approved application and resolution to the Montana Department of Revenue at the address provided (PO Box 8018, Helena, MT 59604-8018).
7. Exemption Information
- Abatement Exemption Amount: The abatement will be phased out over a 10-year period. For the first five years, the assets will be designated as 80%, 90%, or 100% exempt, as determined by the local governing body. After this period, the property will be taxed at 100% of its taxable value.
- Tax Year: Indicate the tax year when the approved tax abatement will begin.