For a number of years the Maine Homestead Exemption has been $13,000. For this year coming, as of April 1, 2010, the State Legislature has rolled back the amount to $10,000. As of this writing I do not know if there are any plans to go back to $13,000 any time soon.

For Saco residents that already receive the exemption there is no need to re apply to continue to receive the new lower amount.

The qualifications to be eligible have not changed either. They are as follows:

Homestead Exemption Qualifications
If you have owned your present home or a home in the State of Maine for the previous 12 months and it is your primary residence, you may be entitled to the State of Maine Homestead Exemption.

The just value of $10,000 of the homestead of a permanent resident of this State who has owned a homestead in this State is exempt from taxation. In determining the local assessed value of the exemption, the assessor shall multiply the amount of the exemption by the ratio of current just value upon which the assessment is based. In Saco we are at 100% of just value so all homeowners will receive the full $10,000 exemption.

If you are unsure if you are receiving the homestead exemption you would have seen the deduction on your tax bill.

If you do not have the homestead exemption listed as a deduction on your current tax bill, an exemption form can be obtained in the Assessing Department or by following this link to download a printable PDF file.

The Homestead Application form must be submitted to the Assessing Department prior to April 1 of the year in which you first seek the exemption.

In order to keep new owners of homes informed we do send them a form when we have received notification of transfer from the Registry of Deeds.