AUGUSTA - Rep. Nicole Grohoski, D-Ellsworth, introduced LD 1482 before the Joint Standing Committee on Taxation on Tuesday. The measure removes the current 12-month wait time necessary to qualify for the Homestead Property Tax Exemption.
Grohoski introduced a similar bill in the 129th Legislature, LD 560, which died on the Special Appropriations Table when the Legislature adjourned early due to COVID-19.
"It is clear that the Legislature considers the Homestead Property Tax Exemption to be one of our important tools for reducing the property tax burden of resident homeowners in Maine," said Grohoski. "If we support the exemption as a helpful tax relief, then why do we require an arbitrary waiting period of at least 12 months for eligibility?"
For eligible Mainers, the Homestead Exemption provides a reduction of up to $25,000 in the value of homes for property tax purposes. By removing the current wait time, the measure enables homeowners to receive an additional one-time property tax exemption in the first full tax year of home ownership.
"In Ellsworth, this is $469.25 in savings, based on our tax rate," said Grohoski. "This money could go a long way toward paying for the inevitable unforeseen and sometimes unbudgeted costs associated with the first year of home ownership."
The committee will hold a work session on LD 1482 in the coming weeks.
Grohoski, a member of the Joint Standing Committee on Energy, Utilities and Technology, is serving her second term in the Maine House of Representatives. She represents the communities of Ellsworth and Trenton.
Contact:
Jackie Merrill [Grohoski], c. 812-1111