Are you a homeowner in the state of Maine? You may be seeing a $100 check early next year!
The Property Tax Relief Fund (https://www.maine.gov/treasurer/property_tax_relief/) in Maine is planning to distribute excess funds to households that qualified for the homestead exemption in 2019. The money becomes available if there is a surplus in the state’s general fund at the end of the year. About 305,000 Maine homeowners should be receiving these checks sometime in January or February, so be on the lookout!
What is the homestead exemption?
The homestead exemption is available to a Maine homeowner for their primary residence. As long as they have lived in the home for more than one year (as of April 1st. 2019), they are eligible. The home’s taxable value is reduced by $20,000, which typically results in a savings of a few hundred dollars every year on your property tax bill. You can find out more about it here: https://www.maine.gov/revenue/faq/homestead_faq.html
You can always each out to the experts at the Real Estate Store to find out more about real estate!