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LD 290 “Property Tax Stabilization for Senior Citizens” Repealed by State Legislature

The “Property Tax Stabilization for Senior Citizens” program has been repealed by the Legislature in response to concerns regarding inequity and reimbursement costs.

Any taxpayer whose application was submitted prior to December 1, 2022, and approved, will still receive the “freeze” on their 2023 property tax bill (due dates of September 2023 and February 2024). Since the program has ended, there will be NO RE-APPLICATION PROCESS.

Taxpayers may qualify for the expanded Property Tax Fairness Credit and the Senior Property Tax Deferral programs. Information and applications for both programs can be found on the Maine Revenue Services website.

Two Tax Relief Programs Being Expanded
Two existing State programs benefiting low-income seniors to be expanded

To help lower-income seniors avoid higher property taxes and remain in their homes, two existing State programs are being expanded:

1. The Property Tax Fairness Credit, which currently allows eligible Mainers to take a $1,500 credit, has increased to $2,000; it also loosens limits on the program in a way that allows the benefits to remain constant for a Mainer whose spouse passes away. Note: This program is not administered by the Town of Peru; to claim the credit, you must file Form 1040ME and Schedule PTFC/STFC for the tax year during which the property tax or rent was paid. For help, call 207-624-9784.  For more info, please visit: Property Tax Fairness Credit Summary.
2. The State Property Tax Deferral Program, a lifeline loan program that covers the annual property tax bills of Maine seniors age 65 and older who cannot afford to pay them on their own, has been expanded. It doubles the income limit on that program to $80,000 and also raises asset limits. Taxes must be paid back when the home is sold or becomes part of an estate. Note: This program is not administered by the Town of Peru; questions on this State managed program can be referred to Maine Revenue Services, Property Tax Division, at 207-624-5600 or prop.tax@maine.gov. For more info, please visit: State Property Tax Deferral Program.