ME LD1665

Increases the property tax fairness credit benefit base for tax years beginning January 1, 2025: single filers to $2,450, joint filers to $3,200, heads of household or joint filers with one child/dependent to $3,250, and those with more than one child/dependent to $4,250

Raises the benefit base for individuals 65 years of age or older to $4,250, up from $4,000

Increases the maximum credit from $1,000 to $2,000 for heads of household or joint filers who have at least one qualifying child or dependent

Requires the Bureau of Revenue Services to convene a working group to study ways to simplify the property tax fairness credit and make it easier for taxpayers to understand and apply for

Working group must report findings and recommendations to the Joint Standing Committee on Taxation by December 3, 2025