An Act To Reinstate The Property Tax Stabilization Program

LD 1144 reinstates a property tax stabilization program for Maine residents aged 65 or older who are permanent residents, effective for property tax years beginning April 1, 2026. The program freezes property taxes on a primary residence up to $900,000 in assessed value, using the previous year's tax amount as the base. It limits stabilization to one primary residence per year for eligible homeowners. Municipalities can recover from the state the cost of administering the program and the difference between the stabilized tax and the usual tax.