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A Newsletter by the City of Saco, Maine	March, 2008	Return to newsletter index

Newsflash: Exemptions save you money

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FINALLY SOME GOOD NEWS.

Below you will find a couple of exemptions to help you save money on your property tax bill.

Homestead Exemption
We wish to inform you that the State of Maine allows us to give our residents a Homestead exemption. In order to qualify, the property you wish to have the exemption on must be your permanent place of residence and you must have resided at this address for one year, an exemption in another community in the State will permit us to qualify you immediately. The exemption translates into less tax dollars you have to pay. We subtract the exemption of $13,000 from your assessed value and tax only the balance (assessed value $195,000 - $13,000 = $182,000 is the amount you will be taxed on giving you a savings in tax dollars of approximately $173).

An application form may be printed from this site or you may come into City Hall and sign up by filling out a form.

We also have an exemption for our War Veterans and their Widows:
A veteran who served on active duty in the armed forces during World War II the Korean Campaign, Vietnam War and the Persian Gulf War or other recognized service periods from August 24, 1982-July 31, 1984 and from December 31, 1989-January 31, 1990 and has attained the age of 62 may apply for an exemption of $6,000. This works like the homestead your assessed value less your exemption.

Good news for all the veterans that already have the Veterans exemption everyone is being given an increase from $5,000 to 6,000 A new application is not necessary. The increase will be reflected on your next tax bill.

A form may be printed from our site or you may come into City Hall and sign up by filling out a form, you must also present us with your DD214. Widows of veterans may also apply for this exemption.

We look forward to helping you with some tax relief.