AUGUSTA – If you are 65 or over, or if you will be 65 by April 1, 2023, you may qualify to freeze your property taxes at their current amount.
Property Tax Stabilization for Senior Citizens, also known as the Property Tax Stabilization Program (the “Program”), is a NEW State program that allows certain senior-citizen residents to stabilize, or freeze, the property taxes on their homestead.
As long as you qualify and file a timely application each year, the tax billed to you for your homestead will be frozen at the amount you were billed in the prior tax year. Eligible residents who move may transfer the fixed tax amount to a new homestead, even if that new homestead is in a different Maine municipality. The filing deadline for this year is December 1, 2022.
Applications are available at your local municipal office.
For more information on the stabilization program, visit Maine.gov
The State of Maine also has another tax program known as the Property Tax Deferral Program. The link to this program is included below: The State Property Tax Deferral Program is a lifeline loan program that can cover the annual property tax bills of Maine people who are ages 65 and older or are permanently disabled and who cannot afford to pay them on their own. The loan program allows Maine’s most vulnerable community members to age in place and ensures that property taxes are still delivered to municipalities, requiring repayment of the loan once the property is sold or becomes part of an estate. The application period for this program is January 1 through April 1. The 2022 filing period is over. The 2023 form will be posted on January 1, 2023.
For more information on the deferral program, visit Maine.gov
