Maine’s program designed to offset property tax burdens for eligible residents provides financial relief directly related to the amount of property tax paid or a percentage of income, whichever is less. For example, a qualifying homeowner might receive a credit covering a portion of their annual property tax bill, reducing their overall housing costs.
This state initiative aims to enhance housing affordability, particularly for lower- and middle-income homeowners, senior citizens, and individuals with disabilities. By lessening the financial strain of property taxes, the program supports residents’ ability to remain in their homes and contributes to the stability of Maine communities. The program’s historical development reflects ongoing efforts to address property tax burdens and promote equitable housing policies within the state.