The Maine Legislature will soon vote on a $900 million spending bill that eliminates a popular property tax program for seniors and replaces it by expanding two existing programs.
Under the bipartisan deal struck by legislative budget writers, the stabilization program that went into effect last year will sunset at the end of this year after drawing an estimated 100,000 applicants.
It allowed anyone who is 65 or older to freeze their property tax bill as long as they received a Homestead Exemption for at least 10 years. It applied to anyone regardless of income and allowed recipients to keep the frozen bill if they moved to another town.
But the program was criticized for its skyrocketing costs to the state and Maine lawmakers made overhauling and replacing it a priority this session.
They've settled on a plan to repeal it and broaden the benefits of a property tax fairness credit for seniors and another deferral program.
The Legislature will vote on the spending bill Thursday.
