Around New England

Maine Property Owners To Receive Homestead Checks From State Government

January 2, 2020

This winter, about 305,000 property owners in Maine will be receiving checks for $104.

These property owners in the state qualified for the Homestead Exemption. Under this program, people who have lived in a home as their primary residence for more than one year as of April 1 would have the first $25,000 of their assessed home value be declared tax-exempt, making them eligible for a refund from the state government, according to WMTW-TV Channel 8 in Portland, Maine.

Previously, the exemption only went up to $20,000.

Under this provision, the state must reimburse towns and cities for the exemption so that they do not lose out on the additional tax dollars.

The state’s Property Tax Relief fund — which gives out these checks — receives its funding from general fund budget surpluses. Each year, the fund receives 40 percent of the state’s surplus, in accordance with Maine law.

In total, this year’s Home Exemption will provide Maine taxpayers with a total of more than $30 million in tax relief.

The state only provides payouts when it has enough funding to pay more than $100 apiece, as WABI-TV Channel 5 in Bangor, Maine reports.

The state of Maine’s government web site also states that there are additional property tax exemptions, resulting in increased reimbursements, for veterans ($6,000), parapalegic veterans ($50,000), and the legally blind ($4,000).

According to WABI, Maine State Treasurer Henry Beck said those qualified will receive checks in January and February. The first batch of checks is scheduled to be mailed out next week.