The 124th Maine Legislature in 2010 revised the Homestead Exemption law. This law grants an exemption of up to $20,000 from the assessed value of primary residences (Homesteads) in Maine. In order to qualify for the exemption, applicants must meet the following three requirements:
The applicant must be a legal resident of the State of Maine on April 1 of the year of application.
The applicant must have owned and occupied a homestead in Maine for a minimum of twelve months directly prior to April 1 of the year of application.
The stated homestead must be the applicant's permanent place of residence.
Property owners who applied for and received this exemption in the current tax year and are still residence owners in Cape Elizabeth will receive it again this year. They do not need to reapply for it.
If a property owner has sold their home, and moved to another location in Cape Elizabeth, then they need to make a new application for their new residence. Or if a property owner has recently moved to Cape Elizabeth, and meets the above noted requirements, then they must apply to the Cape Elizabeth assessor to receive this exemption.
If a residence owner did not receive this exemption last year, they may apply for the coming year by obtaining an application from the Town assessor's Office on the second floor of the Town Hall, or by printing and filling out the form from the links on the Maine Revenue Services website. The assessor's Office will also mail out forms to those who request them. Applications must be received on or before April 1 to be eligible for the coming year.