This bill requires that seniors apply through their municipalities for this program and will require property owners to file applications annually. Applicants must be permanent Maine residents who have owned their home for at least 10 years and meet the requirements of the homestead exemption. This property tax freeze is separate from the State’s homestead exemption. If a municipality determines an applicant is eligible, it will stabilize the property tax on that homestead for the tax year for which the applicant requested participation in this program.

Municipalities, in turn, will apply to the state for reimbursement of taxes based on an increased valuation on that property.

Applications should be available September 1, 2022 and must be received by December 1, 2022 for the following year. The bill takes effect August, 8, 2022.

Homeowners will receive a bill in September for 2023-2024 taxes. These payments will still be due on November 15, 2022 and May 15, 2023. The change will be on the 2024 tax bill which will be assessed on April 1, 2023 and be effective for the 2024-2025 tax year with payments due November 15, 2023 and May 15, 2024.

This new program will not affect Gorham’s Senior Tax Program, which is capped at the existing rate.