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Minot Community News Corner
On August 7th, the Board of Selectmen met and set the 2023 tax rate at $_____ per $1,000 of property valuation. This rate is an increase of $0.___ and reflects the resulting tax levies from the Town, RSU, and County’s budgets minus any revenues, reimbursements, and carryforwards. The Board added additional funds from the Undesignated Fund Balance to reduce the increase but were conservative so as not to deplete the account especially with discussions of potential budget increases from either the RSU or County, that are beyond the Town government’s local control.
In related news, the LD 290 “Property Tax Stabilization for Senior Citizens” program, enacted in August 2022 was repealed by the Maine Legislature and will impact the 2024 tax year. The popularly regarded program had allowed Maine seniors 65 and older who owned a permanent residence for at least 10 years and were receiving (or eligible for) a homestead exemption, to freeze taxes at the previous year’s level regardless of income.
The repeal of this program means there will be no reapplication process and no need to follow-up with the Assessing Department in August, as previously thought. Although the program has been repealed, the initial applications will still be administered for the current (2023) year and be reflected on your tax bill. As a result, approximately 184 eligible Minot applicants will only be responsible for the “frozen” property tax bill amount for the 2023 billing cycle—this amount will be equal to the tax amount the owner was billed in 2022. Per the law, the State will reimburse the Town for 100% of the difference between actual and frozen taxes.
It is important to note that these are State programs and while the Town plays a role in the administration of them, the Town is not responsible for the policy objectives of these initiatives. Even though the “Property Tax Stabilization for Senior Citizens” program was repealed, the Property Tax Fairness Credit was expanded to assist Maine taxpayers and renters, but that program is administered through Maine Revenue Services and individuals should contact their offices directly via 207-624-9784 for assistance and eligibility requirements.
There are tax programs to assist all property owners in Minot including the Homestead Exemption, Veteran Exemptions, and BETE/BETR, to name a few. Individuals are welcome to contact the Town Office to review their account and ensure they are maximizing their utilization of such programs.
