To be eligible for the Program, an individual must meet all of the following as of April 1 of the property tax year for which they are requesting stabilization (so for applications due December 1, 2022, qualifications must be met as of April 1, 2023):
1) at least 65 years old,
2) a permanent resident of Maine,
3) have owned a Maine homestead for at least ten years, and
4) be eligible for a homestead exemption on the property they are placing in the Program.
Applications and guidance documents are available through Maine Revenue Services (Property Tax Stabilization Program) or at Town Hall.
Key Things to remember:
* File your application by December 1, each year for consideration of the next years taxes. (File by December 1, 2022 for stabilization of the 2023-2024 taxes) This deadline is not currently extendable by the local assessor.
* File your application with the Assessors Office at Town Hall in the municipality where you reside.
* This Program requires annual application (unlike the homestead exemption carry's over from year to year)
* The Assessors office will begin review of received applications after the December 1 application deadline has passed.