An Act To Stabilize Property Taxes on Homesteads of Individuals Who Are 66 Years of Age or Older
Sec. 1. 36 MRSA c. 908-B is enacted to read:
PROPERTY TAX STABILIZATION FOR SENIOR CITIZENS
§ 6281. Stabilization of property taxes on homesteads of individuals 66 years of age or older
(1) Is 66 years of age or older;
(2) Is a permanent resident of the State as defined in section 681, subsection 4; and
(3) Received a property tax fairness credit under section 5219-KK during the income tax year preceding the date the application for stabilization was made.
This bill permits a municipality to maintain the property tax on the homestead of a permanent resident who is at least 66 years of age or older at the amount billed in the year prior to an application for stabilization. The amount by which the tax assessed exceeds the stabilized amount must be paid to the municipality by the State. An applicant for stabilization must be a permanent resident of the State and must have received a property tax fairness credit for the income tax year preceding application for stabilization. An application for stabilization must be made each year to continue eligibility.