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Readers more than 65 years old should take special note of a new property tax “stabilization” program for Maine seniors. This program was approved by the Maine Legislature, and provides for a property tax “freeze” beginning in 2023 if you (1) are more than 65 years old, and (2) have owned a homestead in Maine for the last 10 years.

Eligible residents can face substantial savings and certainty utilizing this program. For example, if your property tax bill this year was $1,000 (yeah right!), but your next year’s bill goes up to $1,500, you still pay only $1,000. The state will then reimburse municipalities for lost property tax revenue resulting from municipal residents utilizing this program.

Further, the property tax freeze travels with the homeowner, not the property. So if a homeowner qualifies for the program, uses it for a couple years but then decides to move to a different primary homestead (that may even have a far greater tax assessed value), then the property tax freeze will travel with the homeowner. In other words, this is an age-based, not a parcel-based, relief program.

Applications for this property tax freeze are due by Dec. 1. The qualifying homeowner must turn 65 years old or older by April 1, 2023. There are no income guidelines for this tax freeze program.

I’m going to take next week for the holiday. Everyone have a nice Thanksgiving!