Property Tax Fairness Credit
Eligible Maine taxpayers may receive a portion of the property tax or rent paid during the tax year on the Maine individual income tax return whether they owe Maine income tax or not. If the credit exceeds the amount of your individual income tax due for the tax year, the excess amount of credit will be refunded to you.
Homestead Exemption
This program provides a measure of property tax relief for certain individuals that have owned a property in Maine for at least 12 months. They must reside in the property on April 1 and occupy the home as their permanent residence. Eligible property is exempt for up to $25,000 of just value of the home.
Veteran (or Surviving Spouse of Veteran) Exemption
A veteran who served during a recognized war period and is 62 years or older; or, is receiving 100% disability as a Veteran; or, became 100% disabled while serving, is eligible for an exemption of $6,000 of just value of their home.
Unremarried surviving spouses of qualifying veterans can receive property tax exemptions on their primary residence. In Maine, widows/widowers may qualify if the deceased veteran served during a recognized war period, received/was eligible for pension or compensation benefits, or had a service-connected disability. To continue receiving an exemption after the passing of a veteran, the surviving spouse must apply for the exemption by April 1st following the veteran’s passing.
Senior Assistance
On June 5, 2018, the Town Council authorized a new program that would provide property tax relief to Old Orchard Beach residents who are 70 years old, whose primary residence has been in the Town of Old Orchard Beach for at least 10 consecutive years, and who meet criteria related to limited income and financial assets.
To qualify, you must meet all the following criteria:
- Received a Property Tax Refund this year from the State of Maine Property Tax & Fairness Credit Program
- Received the Homestead Exemption at the time of the Application.
- Primary Residence has been in Old Orchard Beach for ten (10) continuous years prior to the date of the Application.
- You are 70 years of age as of November 1st.
- You have no past due property taxes as of the date of the Application.
- Application must be completed and submitted to the Tax Office by November 1st each year.
Exemption for the Blind
An individual who is determined to be legally blind is eligible to receive an exemption of $4,000 of just value of their home.
State Property Tax Deferral Program
The Property Tax Deferral Program allows certain taxpayers to defer the payment of property taxes on their homestead. While participating in the Deferral Program, the State will pay the property taxes, including up to two years of delinquent taxes, on the homestead of participating taxpayers each year until the taxpayer withdraws or is disqualified from the Program. Following withdrawal or disqualification, the taxpayer (or their estate or heirs) must repay the total deferred taxes plus interest and costs. The filing period for the upcoming tax year opens January 1st. Applications must be received by April 1st. The application for the Deferral Program will be available on the Property Tax Forms page in the Taxpayer Forms section.
To qualify for the program, you must meet all of the following criteria:
- Be at least 65 years old or unable to work due to a permanent disability.
- Have a combined annual income of less than $80,000.*
- Have combined liquid assets of less than $100,000* for a single owner, or less than $150,000* for multiple owners.
- Own and occupy the property as your primary residence and currently receive the Maine Homestead Exemption on it.
- Have no more than two years of delinquent property taxes at the time of application.
*These amounts may change annually. Check criteria during the application window, January 1st to April 1st.
Renewable Energy Investment Exemption
This program exempts renewable energy equipment, such as solar panels, from property tax beginning April 1, 2020. Taxpayers must apply for the credit by April 1 of the first year the exemption is requested.