Jay Town Office reminds residents about the State of Maine Property Tax Stabilization for Senior Citizens as well as the Property Tax Deferral Program, according to a news release from Town Manager Shiloh LaFreniere.
Property Tax Stabilization for Senior Citizens, also known as the Property Tax Stabilization Program, is a new state initiative that allows certain senior-citizen residents to stabilize, or freeze, the property taxes on their homestead. Those who qualify must file a timely application each year. The tax billed to a homestead will be frozen at the amount 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.
The filing deadline for this year is Dec. 1. Applications are also available at the Town Office, 340 Main St. For more information about the program, visit maine.gov.
The Property Tax Deferral Program is a lifeline loan program that can cover the annual property tax bills of Maine people 65 and older or are permanently disabled and who cannot afford to pay them on their own. The loan program allows Maine’s most vulnerable community members to age in place and ensures that property taxes are still delivered to municipalities, requiring repayment of the loan once the property is sold or becomes part of an estate.
The application period for this program is Jan. 1 through April 1, 2023. The 2022 filing period is over. The 2023 form will be posted on Jan. 1, 2023.
For more information, visit maine.gov.
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