How will the Maine Tax module incorporate the new Property Tax Stabilization Program legislation

Owned by Knowledge Assistant
Last updated: Jul 25, 2023
1 min read



Description of Issue

  • What functionality surrounding Maine Revenue Services Title 36 Chapter 908-B §6281, Property Tax Stabilization for Senior Citizens, also known as the Property Tax Stabilization Program, will be added to the Maine Tax module.

  • How can property taxes be frozen in Maine.

  • How to handle property tax stabilization.



Context

  • Munis

  • Maine Property Tax

  • ME Tax

  • Property Tax Stabilization for Senior Citizens

  • Property Tax Stabilization Program

  • M.R.S. Title 36 Chapter 908-B §6281

  • LD290



Cause

New legislation, dubbed the Property Tax Stabilization Program, has been written into law and goes into effect starting 8/8/22 and will first appear on 2023 property taxes.



Resolution

Please install the necessary update to add this functionality.

The following updates are available to download for the following versions: 

  • Version 11.3 > MUN-443974

  • Version 2019.1 > MUN-453040

  • Version 2021.3 > MUN-453041

  • Version 2021.4 > MUN-453042

The following updates will be available to download for the following versions shortly: 

  • Version 2021.5 > MUN-453043

  • Version 2021.6 > MUN-453044

  • Version 2021.7 > MUN-453045

  • Version 2021.8 > MUN-453047

  • Version 2021.9 > MUN-453047

  • Version 2022.2 > MUN-453048

Once the necessary update is installed, please download the appropriate guide for processing: 



Additional Information

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=290&snum=130

https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0126&item=1&snum=130

https://www.maine.gov/revenue/taxes/tax-relief-credits-programs/property-tax-relief-programs/stabilization-program