Maine is in the midst of a housing crisis. The shortage of housing is adversely impacting working families, small businesses, older Mainers and the overall economy. To effectively respond to this crisis, Maine must not only construct new housing to meet the demand but also make it easier for Mainers to afford to remain in their homes. It’s why I proudly supported improvements to targeted property tax relief programs and initiatives designed to help stabilize property taxes over the past two years. By targeting relief based, we are better equipped to support the many in our community facing the economic hardships.

First, the Legislature enhanced the Property Tax Fairness Credit for older Mainers. The Property Tax Fairness Credit (PTFC) is a popular property tax relief program that helps income-eligible Mainers whether they rent or own their home. The credit is refundable and the amount depends on income-eligibility and whether or not the applicant is over the age of 65. To provide more targeted property tax relief to older Mainers, lawmakers increased the maximum benefit for seniors by $500. This will provide greater financial support to those on fixed incomes and likely hit hardest by rising property taxes. Perhaps most importantly, a household receives the same benefit regardless of the number of residents over 65. This means that the loss of a spouse should not result in a reduction in benefit. Mainers interested in the Property Tax Fairness Credit can learn more at https://www.maine.gov/revenue/taxes/tax-relief-credits-programs/income-tax-credits/property-tax-fairness-credit.

Lawmakers also took steps to improve the Property Tax Deferral Program. Older Mainers are a vital part of our community. We should be doing everything we can to ensure those who have contributed so much can afford to age in the place they call home. The recently re-established Property Tax Deferral Program is designed to help older Mainers and individuals living with significant disabilities remain in their homes even if they are at risk of falling behind on property taxes. For those that qualify, the state pays property taxes owed to the municipality and does not collect this money until the estate has been settled. To qualify for the program, older Mainers must meet specific age and income-eligibility guidelines. However, during the 131st Maine Legislature, we adjusted income and asset restrictions to ensure more Mainers that need this vital program can actually access it. Mainers interested in learning more about the Property Tax Deferral Program can learn more at www.maine.gov/revenue/taxes/tax-relief-credits-programs/property-tax-relief-programs/deferral-program.

In addition, I was proud to continue my support for fully funding K-12 public education and the revenue sharing program. When the state does not honor its commitment to fund both of these programs, it is property taxpayers who pay the price. By making sure the state follows through on its responsibilities to our community, I’m hopeful it will help stabilize property taxes for everyone.

I’m proud that we were able to take steps to ease the property tax burden on older Mainers and working families by strengthening existing relief programs and keeping our commitments to schools and communities. As we move forward, it is essential that we continue refining our tax measures to ensure they effectively meet the needs of our senior citizens allowing them to live with dignity and financial security. I remain committed to listening to your concerns and adapting our policies to provide the best possible support. In the meantime, I would encourage all Mainers concerned about property taxes to check out www.maine.gov/revenue/taxes/tax-relief-credits-programs/property-tax-relief-programs.