You are receiving this newsletter because the Assessor's office has accepted your application into Maine's Property Tax Stabilization Program. Don't remember what the Property Tax Stabilization Program is all about? Learn more on our website!
Applications for the Property Tax Stabilization program were reviewed as of April 1, 2023, which is the date when all property is assessed in Maine. The stabilized tax amount (i.e. the amount paid in taxes on your homestead in 2022) will be applied to the 2023 tax bill for your homestead on April 1, 2023.
If you moved to another Maine community after applying for Property Tax Stabilization and before April 1, 2023, you must speak to the assessor in your new community in order to transfer your eligibility for the Property Tax Stabilization program to your new property.
If you sell your home in Bath and move to a new homestead property after April 1, 2023 (whether in Bath or elsewhere in Maine), you may not receive the benefit of the Property Tax Stabilization Program on the 2023 tax bill for your new home, though you will continue to be eligible for the program. This is because all property in Maine, regardless of when tax bills are due, is valued based on its ownership and condition on April 1. Maine Revenue Services has advised us that applications for the 2023 Property Tax Stabilization program (received by December 1, 2022) must be applied to the homestead property owned April 1, 2023.
To learn more about the circumstances that could change your eligibility for Property Tax Stabilization, see our website.
When you receive your 2023 tax bill in September of 2023, the bill should show these important numbers:
1. The total amount of taxes owed on your Maine homestead property.
2. The amount of subsidy from the State of Maine that has been applied to your tax bill (if any).
3. The net amount you must pay in property taxes for 2023. This number should not be higher than the total amount you paid in property taxes in 2022. If your 2023 property taxes are lower than they were in 2022, you will pay the lower amount (and there will be no subsidy from the State of Maine).
The renewal application due by December 1, 2023 (the application for the 2024 tax year) has not yet been created by the State of Maine. When the renewal application is available, we will alert you via email and provide a link where you can download the application. We expect the application to be available by late summer or early fall; please check our website or contact us in September after you receive your tax bill if you have not yet heard from us.
The Property Tax Stabilization Data page shares an analysis of the properties enrolled in the Property Tax Stabilization program throughout the City. The chart below, showing the percentage of Bath's total residential property valuation included in the Property Tax Stabilization program, is an example. You can download the full report on the Property Tax Stabilization program (pdf) as well.
This newsletter uses the City of Bath's community newsletter messaging system. Emails you send to the Assessor's office (bcummings@cityofbath.com or jmarshall@cityofbath.com) will be sent directly to us and will not be received by anyone else. We anticipate sending out one or two future newsletters when renewal applications are available (summer 2023). We'll also use this email list to send you information about any changes to the Property Tax Stabilization program. Please let us know if your email address changes in the future, so we can keep you updated.