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"Under-the-Radar" Move Will Save Maine Seniors Millions In Taxes

"Under-the-Radar" Move Will Save Maine Seniors Millions In Taxes

An "under-the-radar" move in Maine will save senior citizens millions of dollars in property taxes.

According to a report out of Augusta from the Bangor Daily News:

A sweeping new program that aims to freeze property taxes for Maine seniors faces big questions from the local officials who will have to implement it about two weeks before it takes effect.

The under-the-radar measure could have a major effect in the nation’s oldest state by median age and the one with the second-highest homeownership rate.

The move could have far-reaching impact, as approximately 80 percent of Mainers aged 65 and older were homeowners in 2017, per the United States Census.

The National Conference on State Legislatures shares that six other states -- Connecticut, New Jersey, Oklahoma, Rhode Island, Tennessee, and Texas -- have already implemented property tax freezes for senior citizens who meet specific income threshold requirements. 

The NCSL notes:

Because of the unpopularity of the tax, property tax limits have become common throughout the country. Nearly all states have homestead exemption and credit programs in place for seniors and other qualifying individuals to exempt a certain amount of a home’s value from taxation. At the same time, six states have property tax freeze programs that bar property tax increases for eligible individuals. These programs are usually an optional program for local governments.

However, as the Bangor Daily News pointed out, there are concerns about the measure, as "scant" funding has been allotted by the state government.

“We could get between 500 and 1,000 applications, and we’re a very small office and have other things to do,” said Kerry Leichtman, the tax assessor for Camden and Rockport. “So it’s going to impact us administratively for quite a while.”

Leichtman went on to express that his office will do everything in its power to ensure that all eligible seniors know about the program, but that he fears it could be "impossible" to implement due to issues with tax software and cash flow.

Lobbyist Kate Dufour added, "This is what happens when decisions are made in haste."

Did you know about this new legislation that could freeze property tax payments for Maine senior citizens?

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Rebekah Barton

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