AUGUSTA - Rep. Ron Russell, D-Verona Island, introduced a bill before the Legislature's Taxation Committee on Wednesday that would provide property tax relief to more Mainers by expanding the existing Property Tax Fairness Credit (PTFC).
LD 2144 would provide additional property tax relief to Mainers aged 65 and older with low and moderate incomes. Under current law, homeowners are eligible for the PTFC if their property tax bill is more than 4% of their income, with the maximum credit being $2,000. Russell's proposal would cut that threshold to 2% of their income, offering more relief for those already eligible and expanding the program to more people.
"This legislative session, one of my top priorities is to strengthen our existing property tax relief programs, especially for older Mainers and those living on fixed incomes," said Russell. "Since last fall, I've met with more than 100 older residents of my district, many of whom are struggling to pay their property taxes and stay in their homes. LD 2144 would expand eligibility for the Property Tax Fairness Credit, helping to ease the property tax burden for older folks. It would help ensure that more Mainers can age with dignity in their homes and the communities they know".
The committee will hold a work session on the bill in the coming weeks.
Russell is serving his first term in the Maine House. He is a member of the Labor and Housing Committee and represents Bucksport, Orland, Penobscot and Verona Island.
Contact:
Brian Lee [Russell], c. 305-965-2744