Property Tax Fairness Credit
Maine Residents Property Tax Fairness Credit -This credit will kick in for the 2015 State Income Tax filings submitted in 2016. The income tax credit will be available to Maine residents who own or rent a primary residence with incomes up to $40,000. The benefit is 40% of the amount of property taxes (or assumed property taxes in the case of renters) that exceed 10% of income. Benefits are capped at $300 for a qualifying homeowner or renter under age 70 and $400 for applicants 70 years of age or older.