Code of Maine Rules
18 - DEPARTMENT OF ADMINISTRATIVE AND FINANCIAL SERVICES
125 - BUREAU OF REVENUE SERVICES
Chapter 813 - PROPERTY TAX FAIRNESS CREDIT
Section 125-813-.04 - PROPERTY TAXES PAID
Current through 2024-38, September 18, 2024
Property taxes paid. "Property taxes paid" means property taxes paid during the taxable year on the homestead in Maine exclusive of special assessment, interest and charges for service levied on a taxpayer's homestead. Property taxes paid does not include property taxes paid on a dwelling in Maine during that part of the tax year the taxpayer was not a resident of Maine.
A. Multiple owners. A taxpayer who is one of two or more owners of a homestead in Maine may claim a credit on the basis of the property taxes paid by the taxpayer to the extent the taxpayer occupies the dwelling as a homestead in Maine. The taxpayer must exclude the amount of property taxes paid by the other owners. Owners who do not occupy the dwelling as a homestead in Maine may not claim the property taxes they paid on the homestead.
B. Part of a larger unit. If a homestead is an integral part of a larger parcel of property, such as a farm or multipurpose or multi-dwelling building, the property taxes that may be claimed for purposes of the credit is limited to the property taxes paid on the taxpayer's homestead, including up to 10 acres of contiguous land upon which the homestead is built.
C. Business use of the homestead. Property taxes paid does not include property taxes paid on any part of the homestead used exclusively for business purposes. Property taxes paid must exclude property taxes claimed as a business expense on the taxpayer's federal income tax return for the taxable year.
