There are several classes of exempt property (property upon which real estate taxes need not be paid) such as government-owned property. In addition, several other personal exemptions exist.
Homestead ExemptionUnder this law, homeowners are now eligible for up to a $20,000 reduction in their permanent residence’s property valuation. If you have owned a home in Maine for 12 months prior to April 1st, you may apply for this program. Forms are available from the Tax Assessor’s Office or by going to the State Website.
Veteran’s ExemptionA property owner may be eligible for a reduction in the valuation of their property if they:
- Own a residence in Rangeley on April 1st of the year in question
- Are a veteran who is not dishonorably discharged
- Served during a recognized war period in the U.S. Armed Forces
- Are over 62 or are an unremarried widow/widower for a qualifying veteran