Property Taxes in Southern Maine

How the mill rate actually works

Take the assessed value, divide by 1,000, multiply by the mill rate. A $500,000 home in a town with a $15 mill rate generates a $7,500 annual tax bill before exemptions. The certified ratio matters too — towns reassess on different cycles, so the relationship between 'assessed value' and 'market value' can drift between revaluations.

The Maine Homestead Exemption

Maine offers a Homestead Exemption that reduces the assessed value of a primary residence — currently $25,000 of just value, subject to the town's certified ratio. You apply once through the assessor. Veterans, the legally blind, and certain seniors may qualify for additional relief.

• •Homestead Exemption: ~$25,000 of just value off primary residence
• •Veteran Exemption: additional relief for qualifying veterans
• •Property Tax Fairness Credit: state credit on Maine income tax
• •Senior Property Tax Stabilization: check current program status

Verify before you buy

Always verify the current mill rate and any pending revaluation directly with the town assessor before making an offer. A reval can move bills materially in either direction the year it takes effect.