If you or someone you know is experiencing financial hardship, help is available.
Below, we have compiled resources and initiatives available for property tax relief.
Homestead Exemption
The homestead exemption provides a reduction of up to $25,000 in the value of your home for property tax purposes. To qualify, you must be a permanent resident of Maine, the home must be your permanent residence, you must have owned a home in Maine for the twelve months prior to applying. Learn more and apply here.
State Property Tax Deferral Program
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. It allows for repayment of the loan once the property is sold or becomes part of an estate. Learn more here.
Cape Elizabeth’s Senior Tax Relief Program
Eligible applicants must be 65 years or older; Be a property owner within Cape Elizabeth for ten years or greater; Have a homestead exemption; Have a federal AGI of less than $60,000; and Have taxes greater than five percent of their gross adjusted taxable income. Learn more and apply here.
Veteran’s Exemptions
A veteran who served during a recognized war period and is 62 years or older; or, is receiving 100% disability as a Veteran; or, became 100% disabled while serving, is eligible for $6,000. Apply here.
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. Learn more here.
What else can we do?
Write to the Town Council and tell them you support further exploring initiatives such as:
1) the creation of a tax deferral program for senior citizens
2) a volunteer program that allows senior citizens to earn benefits of up to $1,000 by volunteering to provide services to the town
3) creating a tax relief program without age restrictions