Bill
Bill > LD1481
ME LD1481
ME LD1481An Act to Amend the Law Governing Stabilization of Property Taxes on Homesteads of Individuals 65 Years of Age or Older
summary
Introduced
04/03/2025
04/03/2025
In Committee
04/08/2025
04/08/2025
Crossed Over
Passed
Dead
05/21/2025
05/21/2025
Introduced Session
132nd Legislature
Bill Summary
This bill amends the property tax stabilization program for senior citizens to make the following changes. 1. It extends the program to property tax years beginning on or after April 1, 2025. 2. It changes the eligibility requirements to require an individual to have been a permanent Maine resident for at least 20 years and have a household income of no more than $75,000 of federal adjusted gross income. 3. It simplifies the renewal of stabilization requirements, retaining the requirement in current law that a request for stabilization be done annually, but requiring only that it be a written statement that the household is still eligible under the program for stabilization. 4. It removes the ability of an individual who moves from one municipality to another to retain the same stabilized property taxes assessed on the old property. Instead, the individual's stabilized amount will be determined as of the date the individual moves to the new homestead.
AI Summary
This bill amends the property tax stabilization program for senior citizens by making several key changes to existing law. The bill extends the program's applicability to property tax years beginning on or after April 1, 2025, and modifies eligibility requirements for senior homeowners. To qualify, an individual must now be 65 years or older, have been a permanent Maine resident for at least 20 years (increased from 10 years), and have a federal adjusted gross income not exceeding $75,000. The bill simplifies the annual renewal process by replacing the requirement for a full new application with a simplified written statement confirming continued eligibility. Additionally, the bill changes how property tax stabilization works when a senior moves to a new municipality. Instead of transferring the previous stabilized tax amount, the new municipality will determine the stabilized property tax amount based on the date the individual moves to the new homestead. This legislation aims to provide continued property tax relief for senior citizens while updating the program's parameters to ensure its sustainability and fairness.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD) (on 05/21/2025)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1481&snum=132 |
| BillText | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0973&item=1&snum=132 |
Loading...