Americans can claim between $675 to $1,350 from $280million pot but you have a specific window to apply for the money

A NEW rebate will offer Americans between $675 and $1,350 but they must apply to qualify.

Montana Governor Greg Gianforte signed a new law that will provide homeowners with some financial relief.

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Over the next two years, residents can claim as much as $1,350 in property tax rebates.

“Property taxes are too high, which is why we prioritized and secured immediate property tax relief for Montanans this legislative session,” said the governor.

“Now, it’s time to build on reforms to reduce the burden of property taxes over the long term.

“While our property tax rebate will help these next two years, we must make permanent reforms to provide homeowners with significant, long-term property tax relief.”

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The law will provide a tax rebate of up to $675 both this year and next year.

The rebate is $675 or an amount not to exceed the property taxes on a principal Montana residence for each year.

For example, if a taxpayer owed $500 in property taxes, they will get a rebate of $500.

But if they owe anything over $675, they'll just get the $675.

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Applications for the rebate open on August 15 and close on October 1, according to the state's website.

HOW TO CLAIM THE CASH

There are specific guidelines in order to claim the rebate.

Resident must have:

• Owned a Montana residence for at least seven months
• Lived in the Montana residence for at least seven months
• Had property taxes billed on the residence and paid those taxes

People who moved away during the year but still fit into these categories are eligible for the rebate as well.

Residents will be able to choose if they get a paper check or direct deposit.

Flyers and postcards were sent to homeowners who may be eligible with information about the rebate.

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Checks for $2,500 are also going out to Montana residents who overpaid in taxes.

The state approved income tax rebates earlier this year and will send a whopping $480million back to taxpayers.

Individuals can get up to $1,250 while joint filers can get $2,500.

"Montanans overpaid their taxes, and we’re giving it back," Gianforte said.

“I look forward to getting this money back into Montanans’ pockets where it belongs.”

In order to claim the rebate, residents must have filed 2020 and 2021 taxes by October 17, 2022, and not been claimed as a dependent on another return.

They also must have paid income taxes and filled out line 20 on their 2021 tax returns on form two, and the amount must have been greater than zero.

If line 20 is greater than $1,250 (for individuals), or $2,500 for joint filers then they will receive those amounts.

If it's under those thresholds, then Montana residents will get whatever that totals.

So if a single filer enters $1,000 on line 20 they will receive $1,000.

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Payments are also going out soon from a $1.95million settlement.

Plus, see the two "guaranteed" payments going out this month.