City of Bangor
Important Homestead Exemption Information
The First Regular
Session of Maine’s 121st Legislature enacted changes in Maine’s Homestead Exemption
program. Those changes are effective for Tax Year
2003.
The exemption amount you may
qualify for is now contingent on the value of the homestead. The following table shows how the change
affects the level of exemption for
qualifying applicants.
|
Certified Ration: 100% |
2002 |
2003 |
|
Value below $125,000 |
$7,000 |
$7,000 |
|
Values from $125,000 to $249,999 |
$7,000 |
$5,000 |
|
Value $250,000 and above |
$7,000 |
$2,500 |
If you have any questions,
contact the Assessing Department at Bangor
City Hall, 945-4400, ext. 220.