Property Tax – Homestead Exemption

According to the State of Maine website (April 2011), the homestead exemption program provides a measure of property tax relief for certain individuals that have owned homestead property in Maine for at least twelve months and make the property they occupy on April first their permanent residence. Property owners would receive an exemption of $10,000.

If you are eligible for a homestead exemption on your property taxes, you must complete a form and file it by April 1 of the year with the town assessor. Forms filed after April 1 of any year will apply to the subsequent year tax assessment.

Partial exemptions, such as the homestead exemption, must be adjusted by the municipality’s certified assessment ratio. The exemption requires completion of the application to the local town office where the property is located. Exemption claims may require additional information to support the claim for exemption, and must be delivered to the Assessor’s office no later than April 1 for the previous year’s tax assessment.

The form is available on the State of Maine’s website at:

http://www.state.me.us/revenue/forms/property/apps/homesteadapp.pdf

Click on the above link to download a copy of the form.

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