Homestead Exemption

What is Maine's Law on Homestead Exemption

According to Maine Revenue Services, “The homestead exemption provides a reduction of up to $25,000 in the value of your home for property tax purposes.”

36 MRS §681(2) defines “homestead” as, “any residential property, including cooperative property, in this State assessed as real property owned by an applicant or held in a revocable living trust for the benefit of the applicant and occupied by the applicant as the applicant's permanent residence or owned by a cooperative housing corporation and occupied as a permanent residence by a resident who is a qualifying shareholder. A ‘homestead’ does not include any real property used solely for commercial purposes.” 36 MRS §§681(3) and (4) define “permanent residence” and “permanent resident,” respectively.

36 MRS §683(1) states, in part, "Except for assessments for special benefits, the just value of $10,000 of the homestead of a permanent resident of this State who has owned a homestead in this State for the preceding 12 months is exempt from taxation.” 36 MRS §683(1-B) states, “A homestead eligible for an exemption under subsection 1 is eligible for an additional exemption of $5,000 of the just value of the homestead for property tax years beginning on April 1, 2016, $10,000 of the just value of the homestead for property tax years beginning on April 1, 2017, April 1, 2018 and April 1, 2019 and $15,000 of the just value of the homestead for property tax years beginning on or after April 1, 2020.”

For more information on homestead exemptions or an application, see the website at Maine Revenue Services or contact your municipal assessor’s office.

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1/8/2026        A-Z List

 

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