Saco Taxpayers,

You probably received your property tax bill recently.  Some taxpayers were fortunate to see a decrease; there are many who did not. Though the mil rate is less than last year, the major reason for the increase is the assessed value of your property (house and land.)  

Property assessments are based on fair market value using one of three methods:  a) comparison of homes sold of similar properties within your vicinity less any foreclosures; or b) your property replacement value = value of property minus depreciation; or c) the income potential your property earns.

There are programs to help reduce your property tax liability.  Fill out and return form(s) to the City Assessor’s office.  Links are at end of article.

Here are some programs to help with tax relief: Homestead Exemption:  you must permanently reside in Maine and owned your home for the past 12 months. Maine Veteran Property Tax Exemption:  DD-214 or VA Form 20-5455 is required as proof of service.

Maine Property Fairness Credit:  Some individuals are not required to file federal or state taxes.   There is still an opportunity to receive this credit.  The form is filed with the State of Maine Revenue Service.

If you have any questions about these programs, please call the Maine Revenue Services at 624-2475.  Other tax relief programs are available.  Check out the State of Maine Revenue Tax Relief webpage.

As a taxpayer, Saco Citizens for Sensible Government hopes you take the opportunity to review the information and utilize the tax relief programs available.

John Harkins, Chairperson

Saco Citizens for Sensible Government

Homestead Exemption: http://www.maine.gov/revenue/forms/property/apps/homesteadapp.pdf

Maine Veteran Property Tax Exemption:

http://maine.gov/revenue/forms/property/apps/veteranapp.pdf

Maine Property Fairness Credit:

http://www.maine.gov/revenue/taxrelief/ptfcsummary.htm