Montana
Last checked 2026-06-16
25
Designated tracts (of 58 eligible)
15
Rural designated — QROF treatment
10
Former OZ 1.0 tracts redesignated
57
Days until designations take effect
How Montana chose
Treasury published the final list on October 30, 2026. Montana designated 25 of 58 eligible tracts, its full allocation, in 16 of 22 counties with eligible tracts. Designations take effect January 1, 2027 and run through December 31, 2036.
Compared with the eligible tracts it passed over, Montana favored Urban Institute Tier 1 tracts, tracts with prior NMTC deals and renter-heavy tracts.
| Trait | Designated | Passed over |
|---|---|---|
| Former OZ 1.0 tract | 40% | 21.2% |
| Rural (QROF) | 60% | 66.7% |
| Urban Institute Tier 1 | 28% | 3% |
| Median poverty rate | 23.8% | 24.2% |
| Median family income, % of area | 65.8% | 66.9% |
| Residents of color (mean) | 31.9% | 36.3% |
| Median density, people / sq mi | 1,297 | 16 |
Poverty and income: Treasury's own eligibility figures (ACS 2020–2024). Demographics: ACS 2020–2024. Former OZ 1.0 = at least half the tract's land area was in a 2018 QOZ. How every state compares →
Record: how Montana ran its nomination input process
Nomination process
The lead agency has been identified, but no public process has been published yet. Contact information is below.
Map: designated and eligible tracts
Loading 58 eligible tracts…
Designated tracts by county
The county is usually the first local partner on an OZ deal — zoning, infrastructure, incentives. CDEs listed are New Markets Tax Credit allocatees that have already financed deals inside this county's designated tracts: the organizations with a working track record of underwriting there.
| County | Designated / eligible | Rural | OZ 1.0 kept / lost | Residents | NMTC CDEs active in designated tracts |
|---|---|---|---|---|---|
| Missoula County | 3 / 6 | — | 2 / 0 | 10,633 | Montana Community Development Corporation; USBCDE, LLC |
| Yellowstone County | 3 / 8 | — | 1 / 0 | 10,096 | Montana Community Development Corporation |
| Blaine County | 2 / 2 | 2 | 1 / 0 | 2,959 | — |
| Cascade County | 2 / 4 | — | 0 / 1 | 4,016 | Montana Community Development Corporation |
| Flathead County | 2 / 4 | 2 | 0 / 2 | 5,470 | — |
| Gallatin County | 2 / 3 | — | 1 / 0 | 8,712 | Alaska Growth Capital BIDCO, Inc.; Montana Community Development Corporation |
| Silver Bow County | 2 / 2 | 2 | 1 / 1 | 8,015 | — |
| Fergus County | 1 / 1 | 1 | 1 / 1 | 3,595 | Montana Community Development Corporation |
| Glacier County | 1 / 4 | 1 | 0 / 1 | 5,572 | Montana Community Development Corporation |
| Jefferson County | 1 / 1 | 1 | 0 / 0 | 3,455 | — |
| Lake County | 1 / 2 | 1 | 0 / 0 | 5,324 | National New Markets Tax Credit Fund, Inc. |
| Lincoln County | 1 / 3 | 1 | 1 / 0 | 2,756 | — |
| Richland County | 1 / 1 | 1 | 0 / 0 | 2,665 | — |
| Roosevelt County | 1 / 2 | 1 | 1 / 0 | 4,135 | Montana Community Development Corporation |
| Rosebud County | 1 / 2 | 1 | 0 / 1 | 1,185 | — |
| Wheatland County | 1 / 1 | 1 | 1 / 0 | 2,056 | — |
| Big Horn County | 0 / 4 | — | 0 / 1 | — | — |
| Hill County | 0 / 3 | — | 0 / 1 | — | — |
| Sanders County | 0 / 2 | — | 0 / 3 | — | — |
Counties with no designated tracts are listed only if they lost OZ 1.0 tracts. NMTC: CDFI Fund NMTC public data release. 4 distinct CDEs across Montana's designated tracts.
Find projects and partners in the designated tracts
Every designated tract in Montana, tagged by the signals that point to a project type or a partner. Pick tags to narrow the list — a tract must carry every tag selected. Tags are simple published rules, not a score; hover a tag for its definition.
25 of 25 tracts shown
Download all eligible tracts, national (CSV) →| Tract | County | Pov. | MFI | Pop. | Rent. | Vac. | Signals | Prior NMTC CDEs |
|---|---|---|---|---|---|---|---|---|
| 30005940100 Butte-Silver Bow (balance) | Blaine County | 34.2% | 52.5% | 1,359 | 45% | 12.8% | Rural / QROFFormer OZ 1.0CRA-eligibleTribalPersistent poverty | — |
| 30005940200 Fort Belknap Reservation|Fort Belknap Off-Reservation Trust Land | Blaine County | 22.3% | 86.9% | 1,600 | 38.8% | 12.8% | Rural / QROFCRA-eligibleTribalUI Tier 1Persistent poverty | — |
| 30013000700 | Cascade County | 31.9% | 58.4% | 2,287 | 62.9% | 15.6% | NMTC track recordCRA-eligibleHigh vacancyUI Tier 1 | Montana Community Development Corporation $0.2M · 1 deal |
| 30013000800 | Cascade County | 16.4% | 67.3% | 1,729 | 43.8% | 6.3% | CRA-eligible | — |
| 30027030202 | Fergus County | 26.3% | 89.5% | 3,595 | 48.2% | 6.1% | Rural / QROFFormer OZ 1.0NMTC track recordCRA-eligible | Montana Community Development Corporation $19.1M · 1 deal |
| 30029000301 | Flathead County | 21% | 116.6% | 3,421 | 43.2% | 26.7% | Rural / QROFHigh vacancy | — |
| 30029001000 | Flathead County | 25.7% | 85.3% | 2,049 | 62.5% | 4.8% | Rural / QROFHousing pressure | — |
| 30031000600 | Gallatin County | 22% | 57.8% | 3,034 | 61.5% | 9.7% | NMTC track recordCRA-eligibleUI Tier 1 | Alaska Growth Capital BIDCO, Inc.; Montana Community Development Corporation $61.0M · 3 deals |
| 30031001102 | Gallatin County | 33.4% | 105.1% | 5,678 | 53.2% | 4.8% | Former OZ 1.0Housing pressure | — |
| 30035940200 Blackfeet Indian Reservation | Glacier County | 43% | 40.9% | 5,572 | 54.7% | 11.8% | Rural / QROFNMTC track recordCRA-eligibleTribalPersistent poverty | Montana Community Development Corporation $11.2M · 1 deal |
| 30043962300 | Jefferson County | 11.7% | 64.3% | 3,455 | 24.8% | 11.4% | Rural / QROF | — |
| 30047940500 Flathead Reservation | Lake County | 20.7% | 78.2% | 5,324 | 33.3% | 9.5% | Rural / QROFNMTC track recordCRA-eligibleTribalUI Tier 1 | National New Markets Tax Credit Fund, Inc. $10.0M · 1 deal |
| 30053000200 | Lincoln County | 25.8% | 50.8% | 2,756 | 44.1% | 2.5% | Rural / QROFFormer OZ 1.0CRA-eligible | — |
| 30063000203 | Missoula County | 10.4% | 65.8% | 4,884 | 49.4% | 10.1% | Former OZ 1.0NMTC track recordUI Tier 1 | Montana Community Development Corporation $22.1M · 1 deal |
| 30063000204 | Missoula County | 13.7% | 55.2% | 3,670 | 73.9% | 7% | Former OZ 1.0NMTC track recordHousing pressureUI Tier 1 | USBCDE, LLC |
| 30063001002 | Missoula County | 7.9% | 60.4% | 2,079 | 67.2% | 7.8% | | — |
| 30083070301 | Richland County | 8.5% | 68.6% | 2,665 | 47.1% | 24% | Rural / QROFHigh vacancy | — |
| 30085940002 Fort Peck Indian Reservation|Turtle Mountain Off-Reservation Trust Land|Fort Peck Off-Reservation Trust Land | Roosevelt County | 41.6% | 66.4% | 4,135 | 30.6% | 24.5% | Rural / QROFFormer OZ 1.0NMTC track recordCRA-eligibleTribalHigh vacancy | Montana Community Development Corporation $14.2M · 2 deals |
| 30087000200 Northern Cheyenne Off-Reservation Trust Land|Northern Cheyenne Indian Reservation | Rosebud County | 19.3% | 66.9% | 1,185 | 41.7% | 17.8% | Rural / QROFCRA-eligibleTribalHigh vacancy | — |
| 30093000102 | Silver Bow County | 39.6% | 42.2% | 2,937 | 83.9% | 22.3% | Rural / QROFFormer OZ 1.0CRA-eligibleHigh vacancy | — |
| 30093000200 | Silver Bow County | 23.8% | 78% | 5,078 | 49.7% | 15.7% | Rural / QROFHigh vacancy | — |
| 30107000100 | Wheatland County | 23% | 67.5% | 2,056 | 24.5% | 23.9% | Rural / QROFFormer OZ 1.0CRA-eligibleHigh vacancy | — |
| 30111000200 | Yellowstone County | 26.8% | 56.6% | 3,199 | 79.2% | 19.8% | NMTC track recordCRA-eligibleHigh vacancy | Montana Community Development Corporation $9.4M · 1 deal |
| 30111000300 | Yellowstone County | 26.2% | 36.9% | 3,591 | 60.3% | 4.7% | NMTC track recordCRA-eligibleHousing pressure | Montana Community Development Corporation $6.0M · 1 deal |
| 30111000402 | Yellowstone County | 26.5% | 63.4% | 3,306 | 71.5% | 11.5% | Former OZ 1.0NMTC track recordUI Tier 1 | Montana Community Development Corporation $9.3M · 1 deal |
Reading the signals for projects
- Rural / QROF — a rural QOF investment gets a 30% basis step-up at five years, and existing buildings need only 50% improvement. Rehab of existing stock pencils here in ways it does not elsewhere. Mechanics →
- Housing pressure — mostly renters, most of them cost-burdened. Housing deals here have demand; they also carry displacement risk, which is where community benefit terms matter.
- High vacancy — vacant structures to bring back. Pair with the 50% rural improvement threshold where both apply.
- UI Tier 1 — the Urban Institute's read that private capital is likely to come and the impact would be larger.
Reading the signals for partners
- NMTC track record — the listed CDEs have underwritten deals in this exact tract. They know the market and can layer NMTC with OZ equity. How they stack →
- CRA-eligible — bank investment here earns CRA credit. Start with community development officers at banks with branches in the county.
- Former OZ 1.0 — QOFs and sponsors may already hold assets here. They are the most likely early OZ 2.0 investors and know the local approvals path.
- Tribal — the tribal government is a principal, not a stakeholder to consult. Persistent poverty — USDA Rural Development programs can fill gaps.
Data context
9
Eligible tracts in EIG DCI top distress quintile
The EIG Distressed Communities Index (2019–2023) is referenced in many state scoring rubrics. Quintile 1 = most distressed. See whether OZ 1.0 reached the most distressed places →
3
Counties with eligible tracts designated USDA persistent poverty
Persistent poverty = 20%+ poverty rate in every census 1980–2010. Source: USDA ERS County Typology Codes (2015 edition). Relevant for USDA RD program eligibility and QROF rural bonus. See QROF rural bonus mechanics →
20
Prior NMTC investments in eligible OZ tracts
CDFI Fund NMTC Public Data Release (2024). Indicates prior CDFI capital deployment track record in these tracts. See how NMTC and OZ stack →
42
Eligible tracts with CRA designation (LMI or distressed/underserved)
Banks earn CRA credit for investing in low- or moderate-income tracts (Track 1), and in non-metropolitan middle-income tracts officially designated distressed or underserved by FFIEC (Track 2). When an OZ project sits in a CRA-eligible tract, bank capital can satisfy CRA obligations while generating OZ tax benefits. How CRA and OZ interact →
Cities: Billings, Great Falls, Hays, Missoula, Havre and 35 more
ZIP codes: 59101, 59401, 59405, 59501, 59527 and 48 more
See all 40 cities and 53 ZIP codes
All cities:
Billings, Great Falls, Hays, Missoula, Havre, Wolf Point, Bozeman, Busby, Poplar, Lonepine, Box Elder, Pablo, Plains, Polson, Reserve, Lewistown, Rexford, Ronan, Ryegate, Shawmut, Troy, Two Dot, Libby, Judith Gap, Butte, Hot Springs, Homestead, Brockton, Harlowton, Harlem, Hardin, Browning, Garryowen, Flaxville, Eureka, Dodson, Dixon, Crow Agency, Chinook, Arlee
All ZIP codes:
59101, 59401, 59405, 59501, 59527, 59715, 59718, 59102, 59201, 59859, 59855, 59930, 59701, 59703, 59923, 59717, 59917, 59864, 59860, 59801, 59802, 59804, 59807, 59821, 59524, 59831, 59845, 59848, 59526, 59016, 59523, 59111, 59031, 59034, 59036, 59074, 59078, 59085, 59104, 59105, 59107, 59213, 59521, 59222, 59242, 59255, 59258, 59403, 59417, 59453, 59457, 59022, 59935
Look up a specific tract (FFIEC) → Source: FFIEC Census Flat File 2026, joined to IRS Rev. Proc. 2026-14 eligible tracts.
8
Eligible tracts in top investability quintile (Urban Institute model)
The Urban Institute investability model scores OZ-eligible tracts by predicted likelihood of attracting private capital, based on OZ 1.0 investment patterns. Quintile 1 = highest predicted investability among scored tracts. Not all tracts are scored — coverage reflects tracts with sufficient OZ 1.0 data.
Who to contact
Montana Dept. of Commerce, Community Development Division
https://commerce.mt.gov/Infrastructure-Planning/Resources/Opportunity-Zones/(406) 841-2700
Certified CDFIs
11 certified CDFIs headquartered in Montana. CDFI Fund certified list →
USDA Rural Development
USDA RD Montana State Office →RCAP Regional Partner
Midwest Assistance Program (MAP) →Rural LISC
Rural LISC →Native / tribal
No formal tribal consultation process has been published for Montana's OZ 2.0 nomination. If your jurisdiction contains or is adjacent to tribal land, contact the relevant Tribal Historic Preservation Office (THPO) or tribal government directly before submitting a nomination.
Designations: Treasury, 2027 QOZ designations and revised eligible-tract file (October 30, 2026). Demographics: ACS 2020–2024 5-year. OZ 1.0: IRS Notice 2018-48, crosswalked to 2020 tracts. Eligible tract counts: IRS Rev. Proc. 2026-14 (April 6, 2026). Rural designation: Notice 2025-50, Section 4.01. Status tier last verified 2026-06-16. Full methodology.