LD 657
pg. 1
LD 657 Title Page An Act to Exempt Individuals Who are 65 Years of Age or Older and Meet Income R... Page 2 of 2
Download Bill Text
LR 470
Item 1

 
Be it enacted by the People of the State of Maine as follows:

 
Sec. 1. 36 MRSA §662 is enacted to read:

 
§662.__Tax relief for citizens 65 years of age or older

 
Beginning with the property tax year that starts April 1,
2002, any person having legal or beneficial title to real
property in this State and who is liable for property taxes is
entitled to property tax relief for that portion of the property
for which relief is sought consisting of the homestead, as
defined in section 6250, subsection 3, but including all
contiguous acreage if the person:

 
1.__Permanent resident.__Is a permanent resident of this
State;

 
2.__At least 65 years of age.__Is 65 years of age or older and
any adults other than that person's spouse domiciled with that
person are 65 years of age or older;

 
3.__Occupies home.__Occupies as a home the real property for
which the person seeks relief; and

 
4.__Income restriction.__Has income equal to or less than 200%
of the federal poverty level.

 
A person meeting the qualifications set out in this section
may file a claim for property tax relief with the tax assessor of
the municipality in which the property is located and, upon
approval, shall pay the tax levied on that property for the first
year a claim for relief is filed and, as long as the person
continues to meet the qualifications, may continue to pay in each
subsequent year the same amount of tax or any lesser amount that
may be levied against the real property.

 
Notwithstanding section 661, the Treasurer of State shall
reimburse each municipality 100% of the property tax revenue loss
suffered by that municipality during the previous calendar year
as a result of the relief granted pursuant to this section.

 
SUMMARY

 
This bill stabilizes property taxes on certain homesteads.
Once a property owner reaches 65 years of age and has income not
more that 200% of the federal poverty level, the property tax
rate remains the same on the property occupied by that owner.


LD 657 Title Page Top of Page Page 2 of 2