State · LIHTC 2026
LIHTC in Montana: 2026 allocations, QAP and data
Montana Board of Housing (Montana Department of Commerce, Housing Division) allocates Montana's housing tax credits. The population-based part of Montana's 2026 9% credit ceiling, before carryforwards and returned credits, is $3,953,600. That is the small-state minimum: 1,144,694 residents times $3.416 would give only $3,910,275. Its 2026 private activity bond cap is the $397,625,000 minimum, and every 4% deal in the state needs a share of it.
Agency and qualified allocation plan
| Allocating agency | Montana Board of Housing (Montana Department of Commerce, Housing Division) |
|---|---|
| Tax credit program page | Montana Department of Commerce, Housing Division LIHTC page |
| Current QAP | 2027 Qualified Allocation Plan (2027) |
| QAP status | MBOH names QAPs by credit year; the 2027 QAP (Governor approved, commerce.mt.gov link) governs awards of 2027 credits made in the 2026 cycle. A 2028 QAP is listed on the QAP page; 2026 QAP covered 2026 credits. |
Agency and QAP links checked 2026-10-30.
2026 credit ceiling and bond cap
| Item | 2026 | Per resident |
|---|---|---|
| Population (IRS Notice 2026-22) | 1,144,694 | 44th of 52 |
| 9% ceiling, population amount | $3,953,600 | $3.45 |
| Formula | greater of $3.416 × pop or $3,953,600 | minimum applies |
| Private activity bond cap | $397,625,000 | $347.36 |
| Formula | greater of $135 × pop or $397,625,000 | minimum applies |
Sources: IRS Rev. Proc. 2025-32 secs. 4.08 and 4.19 (the 9% amounts already include the 12% increase from Pub. L. 119-21 sec. 70422); IRS Notice 2026-22 (2026-15 I.R.B.). Computed by us and rounded to the dollar; agencies may round differently.
Montana is one of 13 jurisdictions (8 states, DC and the four insular areas) that receive the same $3,953,600 minimum, so its credits per resident ($3.45) are above the $3.416 national rate. See every state side by side on the 2026 ceilings and bond caps table.
Basis boost areas: 2027 QCTs and DDAs
HUD's 2027 lists, which apply from January 1, 2027, put 37 Montana census tracts in qualified census tracts, spread across 18 counties. 29 nonmetropolitan counties are difficult development areas. In metro areas, 5 ZIP code areas (ZCTAs) are Small Area DDAs. A building in either can take 130% of eligible basis. Check an address with the QCT and DDA lookup.
| County | 2027 QCT tracts |
|---|---|
| Yellowstone County | 5 |
| Missoula County | 4 |
| Gallatin County | 3 |
| Lincoln County | 3 |
| Big Horn County | 2 |
Nonmetro DDA counties: Big Horn County, Blaine County, Carter County, Chouteau County, Custer County, Fergus County, Flathead County, Glacier County, Golden Valley County, Hill County, Lake County, Lincoln County, Madison County, McCone County, Meagher County, Musselshell County, Park County, Petroleum County, Pondera County, Prairie County, Ravalli County, Richland County, Roosevelt County, Rosebud County, Silver Bow County, Teton County, Toole County, Treasure County, Wibaux County.
Metro areas with Small Area DDAs: Billings, MT HUD Metro FMR Area; Bozeman, MT MSA; Broadwater County, MT HUD Metro FMR Area; Missoula, MT HUD Metro FMR Area; Stillwater County, MT HUD Metro FMR Area.
Every Montana qualified census tract, with its population, poverty rate and median income, is on the Montana QCT list by county.
Source: HUD 2027 QCT and DDA designations, FR Doc. 2026-20390 (91 FR 63573, Oct. 6, 2026).
Tax credit properties in Montana
HUD's database lists 275 Montana properties financed with housing tax credits that the allocating agency still monitors, with 10,512 income-restricted units. The largest city totals are below; see all cities on the Montana apartments page.
| City | Properties | Restricted units |
|---|---|---|
| Missoula | 31 | 1,532 |
| Bozeman | 19 | 1,398 |
| Billings | 27 | 1,283 |
| Great Falls | 19 | 883 |
| Kalispell | 20 | 808 |
| Helena | 19 | 749 |
| Butte | 12 | 619 |
| Hamilton | 8 | 306 |
| Havre | 7 | 217 |
| Browning | 6 | 184 |
| County | Properties | Restricted units |
|---|---|---|
| Missoula County | 33 | 1,631 |
| Gallatin County | 26 | 1,576 |
| Yellowstone County | 28 | 1,329 |
| Flathead County | 32 | 1,099 |
| Cascade County | 21 | 925 |
| Lewis and Clark County | 19 | 749 |
| Silver Bow County | 11 | 608 |
| Ravalli County | 12 | 412 |
| Lake County | 17 | 294 |
| Hill County | 7 | 243 |
For buyers and lenders: the Montana Year 15 and Year 30 list shows which of these properties reach the end of the compliance period or the 30-year extended use minimum from 2022 to 2034, by county.
Source: HUD's national LIHTC database (LIHTCPUB, revised May 28, 2026; projects placed in service through 2024). City pages cover cities with at least five properties; county links go to that county's 2026 income and rent limits.
Financing a LIHTC deal in Montana
A 9% deal in Montana competes for Montana Department of Commerce, Housing Division's 2026 ceiling of $3,953,600 (population amount) under the 2027 Qualified Allocation Plan. A 4% deal needs an award from the state's $397,625,000 private activity bond cap: tax-exempt bonds must finance 50% of the aggregate basis of the building and land, or at least 25% if one or more of those bonds, from an issue dated after December 31, 2025, together finance at least 5% of that basis (the 25% bond test, for buildings placed in service in taxable years beginning after December 31, 2025). Sites in Montana's 37 qualified census tracts for 2027 can take the 130% basis boost.
On HUD's records for the 194 Montana properties on this site's city pages, 0% of those reporting the field were financed with tax-exempt bonds and 85% took 9% (70% present value) credits; 77 received allocations in 2015 or later.
Sources: IRS Rev. Proc. 2025-32; HUD 2027 QCT list; HUD's national LIHTC database (LIHTCPUB, revised May 28, 2026; projects placed in service through 2024), bond and credit-type fields. What to read in a QAP: state LIHTC programs. Sizing a Montana deal: get a financing quote.
State housing tax credit
Not confirmed. Only bill drafts for a Montana workforce housing tax credit found; no enacted state LIHTC confirmed.
More Montana data
- Montana 2026 income and rent limitsby county
- Montana tax credit apartmentsby city
- Montana QCTs and DDAs2027 lists by county
- Year 15 and Year 30 propertiesby county
- QCT and DDA lookupby address
- Monthly credit ratesIRS
- LIHTC in Missouriprevious
- LIHTC in Nebraskanext
- All statescompare
Questions people ask
How much 9% LIHTC does Montana get in 2026?
The population part of Montana's 2026 housing credit ceiling is $3,953,600: the greater of $3.416 per resident or $3,953,600, applied to the 1,144,694 population in IRS Notice 2026-22. The agency's actual 2026 authority also adds unused and returned credits and any national pool share, so its own published figure can be higher.
Who allocates housing tax credits in Montana?
Montana Board of Housing (Montana Department of Commerce, Housing Division). It awards 9% credits under its qualified allocation plan (2027 Qualified Allocation Plan, 2027) and sets the rules 4% bond deals must meet to receive credits.
Does Montana have a state low-income housing tax credit?
We could not confirm one from the agency or the statutes as of October 2026. Only bill drafts for a Montana workforce housing tax credit found; no enacted state LIHTC confirmed.
Financing a Montana tax credit deal?
Construction, bond, bridge-to-equity and permanent debt for Montana 4% and 9% deals.