Bill > LD892

This bill expands property tax relief for veterans and their surviving family members by modifying existing tax exemption rules. Starting in the 2026 property tax year, veterans will no longer be required to have served during a federally recognized war period and will now be eligible for property tax exemptions based on a simplified set of criteria. For standard veterans, the exemption will be up to $5,000 of the property's value, with an increased exemption of up to $6,000 for veterans aged 62 and older. A new tier of disability-based exemptions will be introduced, ranging from $10,000 to $50,000 depending on the veteran's service-connected disability rating from the U.S. Department of Veterans Affairs (60% to 100% disability). The bill also expands eligibility to include unremarried surviving spouses, minor children, and parents of veterans, allowing them to receive the same property tax exemption the veteran would have been eligible for if still living. These changes aim to provide broader and more accessible property tax relief for veterans and their families, removing previous service period restrictions and creating a more inclusive benefits structure.

Budget and Finance

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=892&snum=132