Tax Relief Informaion
A property tax exemption is available for permanent residents of this State who have owned a homestead in the State for the twelve consecutive months prior to the April 1st assessment date. Owners of mobile homes also qualify for this property tax exemption. For the 2013/2014 tax year, the exemption amount in Limestone was to $9,800. of the just valuation. If any resident homeowner is not receiving the homestead exemption please contact the Town Office at 325-4707 for an application form or go online at www.state.me.us/revenue. Application forms are required to be filed with the Assessor prior to April 1st.
EXEMPTION FOR VETERENS AND WIDOWS/WIDOWERS OF VETERENS:
A property tax exemption is available for Veterans, and widows or widowers of Veterans, who served during a federally recognized war period and who have attained the age of Sixty-two (62), as of April 1st, or who are receiving a pension or compensation as a veteran from the United States Government for a total disability, either service or non-service connected. The exemption is available only in the place where the Veteran is a legal resident. For 2013/2014 tax year, the exemption amount in Limestone was up to $5,880 of just valuation. If any qualified Veteran is not receiving the Veteran’s exemption, please contact the Town Office at 325-4704 for an application form or go online at www.state.me.us/revenue. Application forms are required to be filed with the Assessor prior to April 1st.
EXEMPTION FOR THE LEGALLY BLIND:
A property tax exemption is available for those individuals who are declared legally blind. The applicant must file certification from the indiviual’s doctor with the Assessor prior to April 1st. For 2013/2014, the exemption amount for Limestone was up to $4,000 of just valuation.
MAINE RESIDENTS PROPERTY TAX AND RENT REFUND PROGRAM:
The Maine Residents Property Tax and Rent Refund “Circuitbreaker” Program has been repealed as part of the enacted state budget for claims beginning on or after August 1, 2013. The Circuitbreaker Program has been replaced by a refundable Property Tax Fairness Credit that can be claimed on the Maine Individual Income Tax Form.
The new credit will be available beginning in January, 2014 on the 2013 Maine Individual income Tax Form 1040ME. A worksheet will be included with Form 1040ME to calculate the amount of teh credit. Homeowners or renters will be eligible who meet all of the following requirements:
1. Were Maine residents during any part of the tax year:
2. Owned or rented a home in Maine during any part of the tax year and lived in that home during the year;
3. Had Maine adjusted gross income of not more than $40,000; and
4. Paid property tax on a home in Maine during the tax year that was more than 10% of Maine adjusted gross income or paid rent to live in a home or apartment in Maine during the tax year that was more than 40% of Maine adjusted gross income.
To claim the credit, an applicant must file the 2013 Form 1040ME and the Property tax Fairness Credit Worksheet, which will be available in January, 2014. For assistance completing Form 1040ME and the Property Tax Fairness Credit Worksheet, call 207-626-8475 weekdays 8:00am – 5:00pm or visit Maine Revenue Services at 51 Commerce Drive, Augusta, ME 04330 weekdays 8:00am-4:30pm. Closed on State recognized holidays. You can obtain Form 1040ME after January 1, 2014 by downloading from the Maine Revenue Services web site at http://www.maine.gov/revenue/forms or by calling 207-624-7894 to request that a form be mailed. Those who filed a Circuitbreaker application on or after August 1, 2012, will receive by mail a Form 1040ME booklet at the end of this year, even if they did not file Form 1040ME last year