Please see the info sheet and application below:
ME Property Tax Stabilization Information
ME Property Tax Stabilization Application
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Under a new law enacted by the Maine Legislature earlier this year, Maine residents who are aged 65 and older have an opportunity to freeze their future homestead property tax rates at current levels.
The property tax stabilization program, a result of the passage of LD 290 “An Act To Stabilize Property Taxes for Individuals 65 Years of Age or Older Who Own a Homestead for at Least 10 Years”, allows eligible seniors to apply to their municipality to stabilize their property tax assessment at the current rate. Residents must apply by December 1 for the tax year beginning the following April 1, and a new application is required for each year in which a tax stabilization is requested.
In addition to the age requirement, those eligible under the program must be permanent residents who have owned their home for at least 10 years, and the home must meet the requirements for the homestead exemption. Once approved, an eligible homeowner who sells the property can transfer that eligibility to another property anywhere in the state.
Municipalities that have stabilized property taxes for eligible individuals may recover 100 percent of the difference from the State for those properties where assessments exceed the stabilized amounts.