Maine residents can file for a reduction in assessed value of their primary residence. The reduction of $10,000 in assessed real estate property value, will save the Scarborough homeowner $147.70 annually! Or save the Cape Elizabeth resident $162.80 annually. Just multiply your town’s mil rate X 10 to determine your savings. For example, the South Portland mil rate is $16.70 X 10 = $167.00 is the reduction in annual property taxes.
To download the form use this Link:
Click on the Homestead Exemption pfd tab. Fill out the form and submit prior to April 1st, 2014.