An Act to Increase the Homestead Property Tax Exemption for Residents 65 Years of Age or Older

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132nd MAINE LEGISLATURE
FIRST REGULAR SESSION-2025
Legislative Document No. 7
S.P. 19 In Senate, January 8, 2025
An Act to Increase the Homestead Property Tax Exemption for
Residents 65 Years of Age or Older
Received by the Secretary of the Senate on January 6, 2025. Referred to the Committee on
Taxation pursuant to Joint Rule 308.2 and ordered printed.
DAREK M. GRANT
Secretary of the Senate
Presented by Senator BENNETT of Oxford.
Cosponsored by Representative CARLOW of Buxton and
Senators: BRENNER of Cumberland, LIBBY of Cumberland, STEWART of Aroostook.

Page 1 - 132LR0064(01)
1Be it enacted by the People of the State of Maine as follows:
2Sec. 1. 36 MRSA §683, sub-§1, as amended by PL 2017, c. 478, §1, is further
3 amended to read:
41. Exemption amount. Except as provided in subsection 1-C and except for
5 assessments for special benefits, the just value of $10,000 of the homestead of a permanent
6 resident of this State who has owned a homestead in this State for the preceding 12 months
7 is exempt from taxation. Notwithstanding this subsection, a permanent resident of this
8 State who loses ownership of a homestead in this State due to a tax lien foreclosure and
9 subsequently regains ownership of the homestead from the municipality that foreclosed on
10 the tax lien is deemed to have continuously owned the homestead and may not be
11 determined ineligible for the exemption provided in this section due to the ownership of
12 the homestead by the municipality. In determining the local assessed value of the
13 exemption, the assessor shall multiply the amount of the exemption by the ratio of current
14 just value upon which the assessment is based as furnished in the assessor's annual return
15 pursuant to section 383. If the title to the homestead is held by the applicant jointly or in
16 common with others, the exemption may not exceed $10,000 of the just value of the
17 homestead, but may be apportioned among the owners who reside on the property to the
18 extent of their respective interests. A municipality responsible for administering the
19 homestead exemption has no obligation to create separate accounts for each partial interest
20 in a homestead owned jointly or in common.
21Sec. 2. 36 MRSA §683, sub-§1-C is enacted to read:
221-C. Exemption amount for residents 65 years of age or older. Notwithstanding
23 subsections 1 and 1-B, for property tax years beginning on or after April 1, 2025, the
24 exemption amount for a homestead of a permanent resident of this State who is 65 years of
25 age or older and who has resided on the homestead for at least the preceding 10 years is the
26 just value of $75,000 of the homestead.
27Sec. 3. 36 MRSA §685, sub-§2, ¶E, as amended by PL 2023, c. 412, Pt. II, §1, is
28 further amended to read:
29 E. For property tax years beginning on or after April 1, 2023, 76% of the taxes lost by
30 reason of the exemptions under subsections 1 and , 1‑B and 1-C.
31SUMMARY
32 This bill increases the homestead property tax exemption for permanent residents of
33 this State who are 65 years of age or older and have owned a homestead in the State for at
34 least 10 years from $25,000 to $75,000 for property tax years beginning on or after April
35 1, 2025.
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