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A Joint Project of the Maine
Association of Interdependent Neighborhoods |
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Volume 9 No. 2 |
August 2005 |
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MAIN
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A Joint Project of the Maine
Association of Interdependent Neighborhoods |
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Volume 9 No. 2 |
August 2005 |
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Property Tax or Rent Rebate: File Now!
If you own your own home or pay rent, and have high property taxes or rental payments, you are probably eligible for a refund from the State of Maine.
This year more money will be paid out and more people will be eligible. Major expansions to the program include:
Maximum refund increases from $1,000 to $2,000.
The old maximum income cap is gone. (However, because of the payment formula eligibility is limited to households that have income of $75,000 or less for individuals and $100,000 or less for multi-member households, more than doubling the income range of those potentially eligible.)
A renter can attribute 20% of their rent to "property tax," compared to 18% last year.
Only the first $3000 of tax (for a single person), and the first $4000 of tax (for multi-person households), will be considered in the rebate formula.Applications will be accepted from August 1, 2005 to May 31, 2006.
As in prior years, only those whose 2004 property tax (or 20% rental cost) exceeds 4% of their 2004 income will be eligible. If you are close to meeting this test, the State encourages you to apply, to find out if you are eligible.
Get an application from the Maine Revenue Service by calling 624-7894 or get one at your local town office. You can also call Maine Equal Justice at 1-866-626-7059 x 205 and we’ll send you an application.
