We would like to thank everyone who took the time these past few weeks to vote every day for us in the 2022 Best of the Seacoast Community Choice Awards! The dedication of our clients and followers speaks volumes and we have received many emails and messages with words of encouragement. That, in and of itself, is a win in our book.

We have been honored to share the spotlight with a great group of finalists! We will let you know when we get the official results so keep an eye out across social media! Fingers crossed!

#BestoftheSeacoast2022 #pursuitofwinnumbertwo #inittowinit #smiliegrogers #marykathrynbrennan #bestoftheseacoast2021

The Property Tax Stabilization Program for Senior Citizens

What is it?

Property Tax Stabilization for Senior Citizens, also known as the Property Tax Stabilization Program (the “Program”), is a State program that allows certain

senior-citizen residents to stabilize, or freeze, the property taxes on their homestead. As long as you qualify and file a timely application each year, the

tax billed to you for your homestead will be frozen at the amount you were billed in the prior tax year.

Eligible residents who move may transfer the fixed

tax amount to a new homestead, even if that new homestead is in a different Maine municipality.

Who qualifies?

To be eligible for the Program, an individual must meet all of the following as of April 1 of the property tax year for which they are requesting stabilization

(so for applications due December 1, 2022, qualifications must be met as of April 1, 2023):

1) at least 65 years old,

2) a permanent resident of Maine,

3) have owned a Maine homestead for at least ten years, and

4) be eligible for a homestead exemption on the property they are placing in the Program.

If your homestead is owned by more than one individual as joint tenants, only one owner needs to qualify for the Program to participate. There are no income or asset limitations to qualify. 

How does the Program work?

Once you have applied and are approved to participate in the Program, the property tax billed to you for the next tax year will be frozen at the amount you were billed in the previous tax year.

You must file a new application each year by December 1 in order to maintain that stabilized tax amount. For example, if you apply by December 1, 2022, and qualify for the Program, the amount of tax billed to you for the April 1, 2023 tax year will be the same as the amount billed to you for the April 1, 2022 tax year.

As long as you continue to qualify and file timely annual renewal applications, the amount you are billed each subsequent year will be frozen at the amount billed for the April 1, 2022 tax year. The State will reimburse your municipality for the difference between the amount billed to you and the tax that would otherwise be due. 

Virtual Meet & Greet Sessions with

Katherine M. Audet, Esq.

and

Michael A. Cahill, Esq.!

Learn the basic concepts surrounding estate planning. Learn more about Revocable Trusts (“Living Trusts”), Transfer on Death Deeds (aka TODD, which you can also read about in Smilie’s Blog), Advance Healthcare Directives, Powers of Attorney, Wills, and their importance under any circumstance.

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