There is still time for homeowners, veterans, and business owners to apply for tax breaks, as long as they meet the criteria and submit their applications to their local assessing office by April 1.
The Homestead Exemption is for all Maine residents (no income requirement) who have owned a home for more than a year as their primary residence. The exemption can reduce an Ellsworth property owner’s yearly tax bill by roughly $475. Homeowners need only apply once. The exemption remains in effect as long as ownership and residency status remain unchanged.
Mainers who are 62 or older and served during wartime (or any age if receiving 100 percent disability) can apply for the Veterans Exemption, which can save around $100 every year. A widow, widower, minor child or widowed parent of a veteran also may apply.
This is the first year for the Property Tax Deferral Program. The State of Maine will provide property owners a loan to pay their property tax for those who are eligible. The loan must be fully reimbursed (with interest) when the property is sold or becomes part of an estate. To qualify the home owner must be receiving the Homestead Exemption, be aged 65 or older and/or permanently disabled, earning less than $40,000 per year, and have liquid assets below $50,000 (or below $75,000 if applying jointly).
Business owners can apply for tax relief. The Business Equipment Tax Exemption program exempts the tax for non-retail equipment owners.
The Business Equipment Tax Reimbursement program provides owners a reimbursement of retail equipment tax paid.
Tax relief applications must be submitted to the Ellsworth City Hall assessing office prior to April 1, 2022.
