Certain classes of property are tax exempt by law.
Fully exempt property tax may include real estate or personal property owned by governmental entities, school systems, and other institutions.
Partially exempt property tax relates to the following categories:
Homestead Exemption
This program provides a measure of property tax relief for certain individuals that have owned homestead property in Maine for at least 12 months and make the property they occupy on April 1 their permanent residence. Property owners would receive an exemption of up to $25,000. For Fiscal Year 2021-2022 the state of Maine certified Raymond at 92% ratio so residents recieve a $23,000(92% of $25,000) exemption. Amount varies year to year.
Veteran's Exemption
A veteran who served during a recognized war period and is 62 years or older; or, is receiving 100% disability as a Veteran; or, became 100% disabled while serving, is eligible for $6,000; A paraplegic veteran who received a federal grant for a specially adapted housing unit may receive $50,000.
Blind Exemption
An individual who is determined to be legally blind receives $4,000
Renewable Energy Investment Exemption
This program exempts renewable energy equipment, such as solar panels, from property tax beginning April 1, 2020. Taxpayers must apply for the credit by April 1 of the first year the exemption is requested
*Partial exemptions must be adjusted by the municipality's certified assessment ratio. Fiscal Year 2021-2022 Raymond Certified Ratio is 92%
**All of the above exemptions require completion of an application to the local town office where the property is located. Exemption claims may require additional information to support the claim for exemption, and must be delivered to the Assessor's office no later than April 1