Last year, the State of Maine introduced Property Tax Stabilization for Senior Citizens, also known as the Property Tax Stabilization Program or LD290. This is a State program that allows qualified senior citizen residents to stabilize or freeze the property taxes on their homestead. As a result of recent changes in the law, which was repealed by the Maine Legislature during their last session, the Tax Stabilization Program will only apply to the property tax year beginning April 1, 2023.
If you previously applied and qualified for Property Tax Stabilization, you will not see an increase in your property taxes on your upcoming 2023 tax bill. However, because the program has been eliminated for future years, you will not be able to reapply for 2024. Please note that while the City of Biddeford played a role in the administration of this program, we had no part in its creation or repeal.
The Maine Legislature has recently expanded the eligibility thresholds for participation in the Property Tax Deferral Program and increased the maximum benefit available under the Property Tax Fairness Credit. Visit https://www.biddefordmaine.org/3381/Maine-Property-Tax-Stabilization-Program to find out more information about whether you are eligible for these programs and contact information for your legislative representatives.