Maine Residents Property Tax Fairness Credit -This credit will kick in for the 2015 State Income Tax filings submitted in 2016. The income tax credit will be available to Maine residents who own or rent a primary residence with incomes up to $40,000. The benefit is 40% of the amount of property taxes (or assumed property taxes in the case of renters) that exceed 10% of income. Benefits are capped at $300 for a qualifying homeowner or renter under age 70 and $400 for applicants 70 years of age or older. To apply for credit, file a 1040ME "Maine Individual Income Tax Form" and property tax fairness credit worksheet. If assistance is needed to apply for credit call 207-626-8475.
Business Equipment Tax Exemption (BETE): Retail businesses do not qualify. Required iformation from the taxpayer, municipal certification. The single property taxpayers whose property is valued at 2% or m ore of the municipal tax base must provide in their applications for BETE status sufficient information to allow the municipal assessor to determine the value of the subject property, including income and expense information as necessary. Failure to provide that information to the m unicipal assessor disallows a BETE exemption for that tax year. You must apply each year. BETE Application and Guidance can be found here.
Business Euipment Tax Reimbursement Program (BETR) is designed to encourage new capital investment in ME. The program reimburses local property taxes paid on most qualified business property. To qualify, qualified business property must have been first placed in service in Maine after April 1, 1995. The BETR Program begins August 1 and ends December 31 each year. Call (207) 626-8475 for additional information. The application is only available from the State and NOT at Town Hall. Visit the State of Maine website after August 1 and leave your name and mailing address for application and instructions
For general information: