LD 1134
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LD 1134 Title Page An Act Providing Senior Citizens with an Optional Deferred Payment Plan for the... Page 2 of 2
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LR 359
Item 1

 
Be it enacted by the People of the State of Maine as follows:

 
Sec. 1. 36 MRSA c. 105, sub-c. 11 is enacted to read:

 
SUBCHAPTER 11

 
ELDERLY RESIDENTS PROPERTY TAX DEFERMENT

 
§1131.__Municipal property tax deferment program

 
Each municipality that levies taxes on real property pursuant
to this chapter may implement a program that provides for
deferred payment of property taxes, referred to in this
subchapter as "the program."

 
1.__Eligibility.__A person may participate in the program if
the person:

 
A.__Is a resident of the taxing municipality;

 
B.__Pays property taxes to that municipality;

 
C.__Is at least 65 years of age; and

 
D.__Has an annual income less than or equal to 300% of the
nonfarm income official poverty line, as defined by the
federal Office of Management and Budget and revised annually
in accordance with the United States Omnibus Budget
Reconciliation Act of 1981, Section 673.

 
2.__Deferment of property taxes.__A person who is eligible to
participate in the program may elect to pay property taxes at a
level equal to those property taxes assessed on that person's
residence at the time the person attained 65 years of age.__The
assessment must remain at that level until the home is sold or
transferred or the person chooses to stop participating in the
program.

 
3.__Repayment of property taxes.__When the residence of a
person participating in the program is sold or transferred or the
person chooses to discontinue participating in the program, the
total taxes deferred under subsection 2 must be paid within 30
days of the sale or transfer of the property or withdrawal from
the program by the person selling or transferring the property or
withdrawing from the program.__The person selling or transferring
the property or withdrawing from the program shall notify the
assessor for the taxing municipality at least 30 days prior to
the sale, transfer or withdrawal.__The assessor shall prepare a
statement for the person showing:


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