Circuit Breaker Program Repealed

Posted in: News, Tax

The Maine Circuit Breaker program has been repealed and replaced with a Property Tax Fairness Credit.  This credit can be claimed on the Maine Individual Income Tax form using the Property Tax Fairness Credit Worksheet which will be available in January of 2014.

Eligibility requirements include:

  • Maine residency for any part of the tax year
  • owned or rented a home in Maine during any part of the year and lived in that home
  • Maine adjusted gross income (agi) of $40,000 or less
  • paid Maine property taxes of more than 10% of Maine agi or paid rent that was more than 40% of agi

Maximum credit is $300 ($400 if 70 or older.)