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New Program to Help with Rent and Property Taxes

January 23, 2014

New Program to Help with Rent and Property Taxes

            The Property Tax Fairness Credit went into effect on

            January 1, 2014 and replaces the “Circuitbreaker”    Property Tax and Rent Refund, and should be filed         through the State of Maine taxes,

 

                                                            even if you don’t normally file for taxes

 

When completing your taxes this year, you should be aware that you may be eligible for a credit of up to $300 if you are 69 or younger and up to $400 if you are over the age of 70.

  • Due to stricter eligibility limits, many fewer people will get help with their property taxes or rent.

  • The credit is "refundable." This means that you can get the help, even if you owe nothing in taxes (or owe less than the amount of the credit).

    There are four eligibility requirements for the program:                                          

  1. Were Maine residents during any part of the tax year;                                 

  2. Owned or rented a home in Maine during any part of the tax year and lived in that home during the year;                                                                              

  3. Had Maine adjusted gross income of not more than $40,000; and;                       

  4. Paid property tax on a home in Maine during the tax year that was more than 10% of Maine adjusted gross income or paid rent to live in a home or apartment in Maine during the tax year that was more than 40% of Maine adjusted gross income.                                                     

                                                                         

FREE Tax Preparation and filing is available to anyone whose combined or individual income is up to $52,000.  Preparation is provided by IRS-certified volunteers through the Midcoast CA$H Coalition.

FREE tax preparation is available through April 8, 2014.

To schedule an appointment call 207-321-8375

For more information you can get a 1040ME booklet.  The booklet can be downloaded from the Maine Revenue Service website, or you can request a hard copy be mailed to you, by either calling the forms line at 207-624-7894 (leave your name and mailing address) or by writing to: Maine Revenue Services, PO Box 9107, Augusta ME 04332-9107.

For help filing for the new tax credit you can contact Maine Revenue Services at

207-626-8475 weekdays 8:00 am – 5:00 pm or visit Maine Revenue Services at 51 Commerce Drive, Augusta, ME 04330

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