Eligible Maine Seniors Property Taxes Will Not Rise Next Year
There will be a new state law going into effect on August 8th that will help seniors in our state control costs. Tell your senior friends and family about it.
Those 65 and older in Maine who own their home that has been homestead for at least 10 years will not have their property taxes rise, beginning next year.
Eligible seniors will have to apply each year and can do so as long as they live in their homes.
Senator Trey Stewart, R-Presque Isle, originated the bill which passed the Legislature on May 8.
After August 8, if property valuations increase, the state of Maine will pay the municipality the difference between the owner’s current property tax and the new higher amount. The funds will come from the American Rescue Plan.
Most seniors are on fixed incomes, and they will not have to find money in their budget for rising property taxes. One less expense to be concerned about, and peace of mind knowing that they can stay in their homes, without being priced out due to higher taxes.
And it does not affect non-seniors' property taxes. Their taxes will not be increased extra to cover the freeze for seniors' taxes. The state will reimburse the municipality.
Eligible seniors will have to complete an application form which will be available around September 1, and will be due by December 1 for the following year’s taxes.
And again, a new application will have to be filed each year for the next tax year.
Gasoline and Grocery prices may still rise, but property taxes for seniors who meet the qualifications will not rise next year, or ever again. Thank you, Maine.