Property Tax Stabilization Repealed
The LD 290 “Property Tax Stabilization for Senior Citizens” program, enacted in August 2022, was repealed by the Maine Legislature on July 6, 2023
Property Tax Stabilization for Senior Citizens, also known as the Property Tax Stabilization Program (the “Program”), is a State program that allows certain senior-citizen residents to stabilize, or freeze, the property taxes on their homestead.
Stabilization Application - The filing deadline for the property tax year beginning April 1, 2023 was December 1, 2022.
As a result of recent changes in the law, the Tax Stabilization Program will only apply to the property tax year beginning April 1, 2023. However, this same legislation has expanded the eligibility thresholds for participation in the Property Tax Deferral Program and increased the maximum benefit available under the Property Tax Fairness Credit for those age 65 and older.
For more information about the above mentioned programs and how to apply please visit the links below.
Property Tax Deferral Program
Property Tax Fairness Credit