Maine rent rebate 2016

maine rent rebate 2016

Property Tax Programs, apply for an exemption of personal property taxes on eligible business equipment.
If you do not normally file an income tax return, you can apply for the credit by filing a tax return simply to receive the credit.
This means that all Mainers who qualify for a credit will get more money.
Eligibility levels phased out, ending abrupt cutoff: Under the original ptfc, residents earning more than 40,000 annually high school senior night gifts did not qualify for the credit. .Note: This link leads to the Department of Economic and Community Development web site.When the new Property Tax Fairness Credit (ptfc) replaced the Circuit Breaker many people lost valuable help with property taxes and rent.Maine Revenue Services administers several programs aimed at providing eligible Maine taxpayers with tax relief.Today too many Maine people struggle to keep up with rising property taxes that take a large bite out of their income. .The Legislature made changes to the program- at no extra cost to the state. .Better benefit: Before this change, Maine residents only received a ptfc equal to 40 of the amount by which their property tax bill exceeded the eligibility threshold. .Veteran Exemption, blind Persons Exemption, tree Growth, farmland.This made the loss of the Maine Residents Property Tax and Rent Refund program (also known as Circuit Breaker) in 2013 all the more painful for the tax-burdened households that relied. .The good news is that the ptfc program is now going to provide more help to more Mainers. .
These phase-outs will be adjusted for inflation over time.
The 2014 Maine Income Tax Form 1040ME will include a Property Tax Fairness Worksheet to help you figure out if you can get help. .
Head of Household, Married Filing Jointly, or, qualifying Widow(er) or 53,333 if claiming more than 2 exemptions using those same filing statuses.How to Apply: You gentleman's gift guide can apply for the ptfc when you file your 2014 state income tax return between January and April 15, 2015. .These sources of income, as well as others, were previously included as income in the Circuit Breaker program.You paid property tax on your home (principal creative gift packaging coupon code residence) in Maine during the tax year that is greater than 6 of your total income or you paid rent on your home (principal residence) in Maine during the tax year that is greater than.Unfortunately, some renters will see a smaller credit as a result of this change. .This created a cliff effect where residents earning one dollar more than 40,000 could not receive any credit at all. .Individuals in subsidized housing will now qualify. .Get a rebate of personal property tax paid on eligible business equipment.Property Tax Fairness Credit up to 600 (900 if you are 65 years of age or older) if you meet all of the following: You were a Maine resident during any part of the tax year; You owned or rented a home in Maine during.