Maine property tax relief proposal seeks to cap increases for older residents
A proposed constitutional amendment submitted by Sen. Joe Baldacci, D-Bangor, aims to address the frustration felt by residents across Maine due to increasing property tax bills. The proposal would place a 2 percent annual cap on property tax assessment increases for residents aged 65 and older, specifically for their primary residences.
The rising property values and corresponding tax increases have hit older Mainers living on fixed incomes the hardest, with the burden also being passed on to renters. Baldacci’s proposal, which addresses one of the state’s most pressing issues, seeks to provide direct help to this demographic group.
Although gaining support for the proposal may take some time, Baldacci is open to bipartisan collaboration and wants to pair the cap with increases to revenue sharing and the state’s homestead exemption. The narrowing majorities of Democrats in the State House following the recent election may give Republicans more influence on key proposals such as this one.
The concerns raised about controlling state spending and the spending gap projected for the next fiscal year will likely play a role in discussions around Baldacci’s proposal. The repeal of a previous property tax freeze program and the implementation of new tax credit and loan programs for older and disabled Mainers have also shaped the debate around property tax relief.
As Maine lawmakers prepare to return to Augusta, discussions around property tax relief will take center stage. The Maine Municipal Association has expressed support for exploring solutions that more equitably distribute the burden of funding local government services among taxpayers. Further debate and conversations are expected as stakeholders work towards finding a solution to address the rising property tax burden facing Mainers.
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