Guest Column: Helping to make ends meet (Dec. 26, 2008)
By Lawrence Bliss
Senate District 7
You could have a check waiting out there with your name on it. Not a small, insignificant amount, but perhaps a check as much as $2,000, could be waiting for you to claim it. This isn’t some sort of gimmick, or scam, but rather, it is a means to help ease the property tax and rent burden felt by far too many residents in Maine. With the holidays and the state of our economy, we could all use a little extra money right now to help make ends meet.
What many Maine taxpayers may not realize is they could be eligible for a tax refund from the state up to $2,000 as part of the Maine Residents Property Tax and Rent Refund program or “Circuit Breaker,” as it is commonly labeled. The application process for the 2007 tax year began earlier this fall, and I encourage everyone to take time to fill-out the application.
To find out if you qualify for the tax refund, there is a pretty simple formula to follow. If you have a spouse or dependent and your 2007 household income was $80,000 or less or you are a single homeowner whose household income was $60,000 or less, you qualify. If your 2007 property taxes were more than 4 percent of your 2007 household income, you qualify. If you are a renter, you may qualify if the rent you paid in 2007 was more than 20 percent of your 2007 household income.
Also, it should be noted seniors do not need to meet this requirement when their household income is below $13,600 for those living alone or below $16,800 for those living with a spouse or dependent.
According to Maine Revenue Services, 200,000 Maine households are eligible to receive at least a partial refund for property taxes or rent paid during the 2007 calendar year. Nearly 90,000 Maine people have already applied for the tax refund program this year – only half way through the application period.
In the past, the Circuit Breaker program really only provided tax relief for lower income homeowners and renters, but thanks to some major changes by the legislature over the past few years, the income guidelines were changed and expanded. Since the refund is distributed at the state level, lawmakers have worked hard to preserve the bulk of the program’s funding and benefits despite often challenging budget times.
Now more than ever, the Circuit Breaker program is worth checking out. An extra $300 to $400 could buy a new window, some insulation for your attic, pay for an energy audit for your home, or simply help out with fuel costs and ever rising grocery bills.
Although the deadline to apply for the Circuit Breaker tax refund is June 1, 2009, Maine homeowners or renters can apply anytime, and will likely receive a check back from the state within a few short weeks. My office has applications available, and you can receive one by either visiting www.mainesenate.com and filling out a request form, or by calling my office at 287-1515.
In closing, if I can ever be of any assistance to you or your family, please do not hesitate to contact me. I can be reached at home in South Portland at 799-8229, or in Augusta at 287-1515, or toll free, 1-800-423-6900. I look forward to hearing from you.
Senate District 7
You could have a check waiting out there with your name on it. Not a small, insignificant amount, but perhaps a check as much as $2,000, could be waiting for you to claim it. This isn’t some sort of gimmick, or scam, but rather, it is a means to help ease the property tax and rent burden felt by far too many residents in Maine. With the holidays and the state of our economy, we could all use a little extra money right now to help make ends meet.
What many Maine taxpayers may not realize is they could be eligible for a tax refund from the state up to $2,000 as part of the Maine Residents Property Tax and Rent Refund program or “Circuit Breaker,” as it is commonly labeled. The application process for the 2007 tax year began earlier this fall, and I encourage everyone to take time to fill-out the application.
To find out if you qualify for the tax refund, there is a pretty simple formula to follow. If you have a spouse or dependent and your 2007 household income was $80,000 or less or you are a single homeowner whose household income was $60,000 or less, you qualify. If your 2007 property taxes were more than 4 percent of your 2007 household income, you qualify. If you are a renter, you may qualify if the rent you paid in 2007 was more than 20 percent of your 2007 household income.
Also, it should be noted seniors do not need to meet this requirement when their household income is below $13,600 for those living alone or below $16,800 for those living with a spouse or dependent.
According to Maine Revenue Services, 200,000 Maine households are eligible to receive at least a partial refund for property taxes or rent paid during the 2007 calendar year. Nearly 90,000 Maine people have already applied for the tax refund program this year – only half way through the application period.
In the past, the Circuit Breaker program really only provided tax relief for lower income homeowners and renters, but thanks to some major changes by the legislature over the past few years, the income guidelines were changed and expanded. Since the refund is distributed at the state level, lawmakers have worked hard to preserve the bulk of the program’s funding and benefits despite often challenging budget times.
Now more than ever, the Circuit Breaker program is worth checking out. An extra $300 to $400 could buy a new window, some insulation for your attic, pay for an energy audit for your home, or simply help out with fuel costs and ever rising grocery bills.
Although the deadline to apply for the Circuit Breaker tax refund is June 1, 2009, Maine homeowners or renters can apply anytime, and will likely receive a check back from the state within a few short weeks. My office has applications available, and you can receive one by either visiting www.mainesenate.com and filling out a request form, or by calling my office at 287-1515.
In closing, if I can ever be of any assistance to you or your family, please do not hesitate to contact me. I can be reached at home in South Portland at 799-8229, or in Augusta at 287-1515, or toll free, 1-800-423-6900. I look forward to hearing from you.
Comments