Maine Homestead Exemption: How Homeowners Can Lower Their Property Taxes
The Maine Homestead Exemption is an excellent—and often underutilized—benefit available to homeowners who want to reduce their property tax burden. Surprisingly, many eligible homeowners never apply, even though this exemption can result in meaningful annual savings.
The homestead exemption allows qualifying homeowners to exclude up to $25,000 of their home’s assessed value from property taxation. This reduction can translate into hundreds of dollars in savings each year, depending on your local tax rate.
Who Qualifies for the Maine Homestead Exemption?
To be eligible for the Maine Homestead Exemption, you must meet the following requirements:
You must be a permanent resident of Maine
The property must be your primary residence
You must have owned the home for at least 12 months
You must apply on or before April 1
The application must be filed with the municipality where the property is located
If you meet these criteria, applying is well worth the effort.
How to Apply for the Homestead Exemption
Applying for the Maine Homestead Exemption is straightforward. Homeowners must complete the official application and submit it to their local municipality.
You can access the application form here: Homestead Exemption Application
Once approved, you do not need to reapply each year. The exemption will remain in place as long as your ownership, residency status, and primary residence designation remain unchanged.
Why This Matters for Maine Homeowners
Property taxes are a significant ongoing cost of homeownership. Taking advantage of the homestead exemption is one of the simplest ways to reduce that expense and keep more money in your pocket each year.
If you’re unsure whether you qualify—or if you’ve recently purchased a home—it’s worth checking with your local town office or speaking with a real estate professional who can guide you through the process.
