An Act To Provide a Property Tax Credit to Veterans

Sec. 1. 36 MRSA §653-A  is enacted to read:

§ 653-A.  Veteran credit

A person entitled to a property tax exemption under section 653 is entitled to a credit of $500 against the tax otherwise due under this Part. A municipality in which a credit is claimed under this section may submit a claim for reimbursement of the total amount of credits granted under this section to the State Tax Assessor at the same time and through the same process as claims for reimbursement for homestead exemptions under section 685.

summary

This bill provides a $500 credit against property taxes for eligible veterans and their survivors and requires the State to reimburse municipalities for the cost of the credit.