$104 checks from Maine Treasurer to be sent to Homestead Exemption qualifying taxpayers

Mon, 12/30/2019 - 2:30pm

    The Office of the State Treasurer said Dec. 30 that it will send $104 relief payments to all who received the Homestead Exemption in 2019 next week in accordance with “An Act to Return Funds to Maine Property Taxpayers”. 

    Follow on Facebook facebook.com/MaineOST/ to see when checks have been sent.

    The law, "An Act to Return Funds to Maine Property Tax Payers" requires the Office of the State Treasurer to provide tax relief payments of no less than $100 to qualifying homesteads, when the Property Tax Relief Fund reaches a balance to support the payments. 


    The Tax Relief Fund for Maine Residents, which is funded by the transfer of 20% of the unappropriated surplus of the General Fund after all required deductions of appropriations, budgeted financial commitments and adjustments considered necessary by the State Controller have been made, was established to provide income tax relief by reducing income tax rates once a certain level of funds in the fund is reached; to date, the required level of funding to provide income tax relief has not been reached.

    This bill renames the fund the Property Tax Relief Fund for Maine Residents and requires it to be used to provide property tax relief payments directly to residents of this State whose residence qualifies for an exemption under the Maine homestead property tax exemption. The amount of the tax relief payment is determined annually by dividing the total amount of funds available in the Property Tax Relief Fund for Maine Residents by the total number of homesteads that qualify for the Maine homestead property tax exemption. If that amount is at least $100, the Treasurer of State is required, by December 1st, to mail checks for the tax relief payment to each owner of a qualifying homestead.