Answer:There are several State tax assistance programs available to qualifying property owners. Below is a list of the programs and exemptions available:
Homestead Exemption
The Homestead Exemption is for qualifying individuals who have owned their home for 12 months from April to April of the given year, and that home is their permanent residence. Qualifying property owners receive an exemption that reduces their taxable value by up to $25,000. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Veteran’s Exemption
The Veterans Exemption is for qualifying veterans who are either 100% disabled, or are 62 years or older and served during a recognized war period. Qualifying Veterans receive an exemption that reduces their taxable value by up to $6,000. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Paraplegic Veteran Exemption
The Paraplegic Veteran Exemption is for a Veteran who received a federal grant for specially adapted housing. Qualifying Veterans receive an exemption that reduces their taxable value by up to $50,000. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Blind Exemption
The Blind Exemption is for an individual who is determined to be legally blind. The Blind Exemption reduces the taxable value by up to $6,000. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Renewable Energy Exemption
The Renewable Energy Exemption exempts certain renewable energy equipment (such as solar panels) from taxation. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Property Tax Fairness Credit
Eligible Maine taxpayers may receive a portion of the property tax or rent paid during the tax year on the Maine individual income tax return whether they owe Maine income tax or not. If the credit exceeds the amount of their individual income tax due for the tax year, the excess amount of credit will be refunded to them.
Tree Growth
Tree Growth is a Current Use program for property owners with at least 10 acres of forested land used for commercial harvesting. A Forest Management Plan must be prepared by a certified Forester, and you must harvest in accordance with the Forest Management Plan. The property is then valued for their current use, rather than market value. The application is due by April 1st and must be recertified every 10 years.
Farmland
Farmland is another Current Use program for property owners with at least 5 contiguous acres that are used for farming, agriculture, or horticulture. The parcel must also contribute at least $2,000 gross income from farming activities each year and must be reported to the Assessor on a mandated basis. Properties are valued at their current use, rather than market value. The application is due by April 1st, and there are income reporting requirements.
Open Space
Open Space is also a Current Use program where the land must be preserved or restricted in use to provide a public benefit. Public benefits include public recreation, scenic resources, game management, and wildlife habitat. The municipal assessor is responsible for determining a value placed on open space land. The application is due by April 1st.
Hardship Abatements
By law, “[t]he municipal officers…may, on their own knowledge or on written application, make such abatements as they believe reasonable on the real and personal taxes on the primary residence of any person who, by reason of hardship or poverty, is in their judgment unable to contribute to the public charges.”
The State Property Tax Deferral Program
This State program allows certain individuals to defer a portion or the entirety of their property tax bill on their primary residence. The deferral amount plus interest becomes due when the individual passes away, moves, or sells the property. The Application must be submitted to the municipal assessor between January 1st and April 1st.
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There are several State tax assistance programs available to qualifying property owners. Below is a list of the programs and exemptions available:
Homestead Exemption
The Homestead Exemption is for qualifying individuals who have owned their home for 12 months from April to April of the given year, and that home is their permanent residence. Qualifying property owners receive an exemption that reduces their taxable value by up to $25,000. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Veteran’s Exemption
The Veterans Exemption is for qualifying veterans who are either 100% disabled, or are 62 years or older and served during a recognized war period. Qualifying Veterans receive an exemption that reduces their taxable value by up to $6,000. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Paraplegic Veteran Exemption
The Paraplegic Veteran Exemption is for a Veteran who received a federal grant for specially adapted housing. Qualifying Veterans receive an exemption that reduces their taxable value by up to $50,000. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Blind Exemption
The Blind Exemption is for an individual who is determined to be legally blind. The Blind Exemption reduces the taxable value by up to $6,000. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Renewable Energy Exemption
The Renewable Energy Exemption exempts certain renewable energy equipment (such as solar panels) from taxation. The application due date is April 1st of every year, and you only need to file the application once as long as you do not move.
Property Tax Fairness Credit
Eligible Maine taxpayers may receive a portion of the property tax or rent paid during the tax year on the Maine individual income tax return whether they owe Maine income tax or not. If the credit exceeds the amount of their individual income tax due for the tax year, the excess amount of credit will be refunded to them.
Tree Growth
Tree Growth is a Current Use program for property owners with at least 10 acres of forested land used for commercial harvesting. A Forest Management Plan must be prepared by a certified Forester, and you must harvest in accordance with the Forest Management Plan. The property is then valued for their current use, rather than market value. The application is due by April 1st and must be recertified every 10 years.
Farmland
Farmland is another Current Use program for property owners with at least 5 contiguous acres that are used for farming, agriculture, or horticulture. The parcel must also contribute at least $2,000 gross income from farming activities each year and must be reported to the Assessor on a mandated basis. Properties are valued at their current use, rather than market value. The application is due by April 1st, and there are income reporting requirements.
Open Space
Open Space is also a Current Use program where the land must be preserved or restricted in use to provide a public benefit. Public benefits include public recreation, scenic resources, game management, and wildlife habitat. The municipal assessor is responsible for determining a value placed on open space land. The application is due by April 1st.
Hardship Abatements
By law, “[t]he municipal officers…may, on their own knowledge or on written application, make such abatements as they believe reasonable on the real and personal taxes on the primary residence of any person who, by reason of hardship or poverty, is in their judgment unable to contribute to the public charges.”
The State Property Tax Deferral Program
This State program allows certain individuals to defer a portion or the entirety of their property tax bill on their primary residence. The deferral amount plus interest becomes due when the individual passes away, moves, or sells the property. The Application must be submitted to the municipal assessor between January 1st and April 1st.
