AUGUSTA (AP) — Property tax relief is on the way for some Maine residents.
The Portland Press-Herald reported (http://bit.ly/1uCIjZ1 ) that the Property Tax Fairness Credit designed to help seniors and lower-income families takes effect on Friday.
The new law signed by Republican Gov. Paul LePage boosts the credit from $400 to $900 for taxpayers who are 65 and older. The credit will jump from $300 to $600 for younger, low-income residents.
Tax filers can apply for the credit on their 2014 property taxes when they file their state income taxes next year.
Democratic House Speaker Mark Eves said the measure will help many seniors on fixed incomes who are being forced out of their homes because they cannot keep up with their rising property tax bills.
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