Maine LD1665 increases property tax fairness credit benefit bases and maximum credits for certain filers.

Maine LD1665 amends the property tax fairness credit for tax years starting in 2025. It raises the benefit base for individuals filing as heads of households or married filing jointly with one child or dependent to $3,250, and for those with more than one child or dependent to $4,000. For individuals aged 65 and older, the benefit base increases to $4,250. The bill also increases the maximum credit for heads of household or joint filers with a child or dependent to $2,000.

Maine LD1665 increases property tax fairness credit benefit bases and maximum credits for certain filers.

Maine LD1665 amends the property tax fairness credit for tax years starting in 2025. It raises the benefit base for individuals filing as heads of households or married filing jointly with one child or dependent to $3,250, and for those with more than one child or dependent to $4,000. For individuals aged 65 and older, the benefit base increases to $4,250. The bill also increases the maximum credit for heads of household or joint filers with a child or dependent to $2,000.