topic Maine Property Tax Fairness Credit - Rent Value in Deductions & credits

Maine Property Tax Fairness Credit - Rent Value

rlittle333 — Tue, 25 Feb 2025 22:53:46 GMT

For the Maine Property Tax Fairness Credit, how do you determine the real rent value if a person is living in an Independent Living Facility in their own apartment, but the rent includes Heat and a Meal?

Re: Maine Property Tax Fairness Credit - Rent Value

KeshaH — Tue, 25 Feb 2025 23:23:24 GMT

You have a few options to calculate the rent value.

- Check your rental agreement or monthly statement to see if the costs are broken down

- Ask the facility administration for a written statement showing how much of your payment is just for the housing portion

- Estimate the value of the meals and heat and subtract that from your total payment

For the most accurate results, try to get documentation from your facility showing the housing-only portion of your payments.

Re: Maine Property Tax Fairness Credit - Rent Value

rlittle333 — Fri, 28 Feb 2025 23:12:33 GMT

Thanks, unfortunately I was not able to get details on the distribution of the rent last year, so i don't believe I can get that information. I heard from the Maine Revenue Services to reduce the rent by the 15% as listed for when the answer to 5b is yes. So, I will probably use that option.