Property taxes can be a major stressor for many retirees. And just like everything else, they seem to be going up. Recently, more states have been making moves to reduce the burden on older residents who have lived in their homes for years. In Maine, they have rolled out a program designed to let seniors lock in their property tax bills. At first glance, it sounds like a dream scenario. But the reality is a bit more nuanced, and understanding how it works could save you serious money (or help you avoid confusion). Here’s what’s really behind Maine’s senior property tax freeze and what it means for homeowners 65 and older.
