Questions about possible relocation to Maine (Portland, Bangor: apartment, rent, house)

[Submariner]

Originally Posted by TexKnox

... I've heard that NYS offers a tax exemption type program for property taxes. If you make a certain amount of money you're qualified to get a tax cut. Is there a program like this in Maine?

Maine has a 'Homestead Exemption', a 'Veteran Exemption', a 'Paraplegic Veteran Exemption', a 'Blind Exemption', a group of 'Current Use Programs' (Tree Growth, Farmland, Open Space, Working Waterfront), and a 'Property Tax Fairness Credit'.

... Are the taxes around Portland wildly expensive?

I have friends who live in Portland, they report that taxes in Portland are extremely high.

... My property taxes are currently right over 1000 in TN. I am hoping to find a lower mortgage when I move up north to offset any tax gain that I will take on.

We have a 2,400 sq ft home, on 147 acres, with 1/4 mile of river frontage. Our property taxes are less than how much you pay in TN for your home.

We take advantage of the 'Homestead Exemption' and one of the 'Current Use Programs'.

[TexKnox]

Originally Posted by bangorme

Taxes are a hot button issue EVERYWHERE!

Taxes are VERY high in Portland. But there are towns around Portland that are more reasonable. I lived in Brunswick, Maine and the taxes weren't as bad as they are in Bangor, or even the suburbs of Bangor. My house taxes in Caribou, Maine were almost $2,000 a year. My taxes in Brunswick, GA were about $1,200 a year for a house worth about $100,000 more than my house in Caribou. The websites I gave you earlier are your best source of real, comparative, information. You have the information to make an informed decision. Don't go by anecdotal stuff... it won't pay your taxes lol.

Are you retired? If so, Maine has some tax breaks for retired income.

I forgot, Maine just rescinded the Homesteading Exemption program, which helped to offset property taxes. If you are fairly low income they have another, less generous, program now.

I'm curious, why do you expect to get a lower mortgage in Maine? Cheaper home?

I REALLY think you are making a BIG mistake if you are thinking about moving to Maine because it is cheaper to live here. It isn't. We have high taxes, high gasoline cost (in Colorado, where my daughter lives, it was .40 cheaper a gallon there last week), long and cold winters (heating oil or firewood), and much more. I really want people to move to Maine because of the good things about Maine... being cheaper isn't generally one of them.

Hmm mm nope. Never said I was under the impression that it is cheaper. My main motivation for moving is to live in a more liberal state than TN. Knoxville, TN is a very affordable place to live, so almost anywhere would be more expensive.

No. What I am saying is that houses around me have been selling for the asking price...and my house is worth the most in my general neighborhood. I can expect to sell my house for 180k on the low end and 200k on the high end. Wherever I decide to move up north, I would like to cut that almost in half and find a house around 125k, which from what I've been looking at, seems reasonable for what I want to find.

If I can find a mortgage for around 500 to 800, I'm already doing better than I am here, relying on the fact that I find a job where I will be making equal or more than I am now.

I'm basically looking for a cheaper house up north than the one I have here. I think there is a lot I will like about living up north. The scenery, the culture, the politics, etc...

Taxes are a hot button issue everywhere, but from my experience on city data, Mainers tend to get a lot more wrapped up in talking about them than people from other places. Y'all also tend to be more educated on the specifics of tax issues than other people.

Oh...and I'm not retired.

[TexKnox]

Originally Posted by Submariner

We have a 2,400 sq ft home, on 147 acres, with 1/4 mile of river frontage. Our property taxes are less than how much you pay in TN for your home.

We take advantage of the 'Homestead Exemption' and one of the 'Current Use Programs'.

Oh wow! Well, that's encouraging. I have a 3,000 sq ft home on half an acre. I really don't mind downsizing the house. I would like more property though.

Do you have any information on who qualifies and the process one has to take for property tax exemptions in ME?

[Submariner]

Originally Posted by TexKnox

Oh wow! Well, that's encouraging. I have a 3,000 sq ft home on half an acre. I really don't mind downsizing the house. I would like more property though.

Do you have any information on who qualifies and the process one has to take for property tax exemptions in ME?

Maine Revenue Services: Property Tax - Property Tax Exemptions

Maine Revenue Services - Tax Relief

Maine Revenue Services: Property Tax - Current Land Use Programs



I have never lived in TN.

I have owned homes in CA, WA and CT, and I found those areas to be much more expensive than Maine is.

Then again, I am now on pension. All of my income is fully taxable. Because my income is low, I do not pay high income taxes.

[bangorme]

Originally Posted by TexKnox

Hmm mm nope. Never said I was under the impression that it is cheaper. My main motivation for moving is to live in a more liberal state than TN. Knoxville, TN is a very affordable place to live, so almost anywhere would be more expensive.

No. What I am saying is that houses around me have been selling for the asking price...and my house is worth the most in my general neighborhood. I can expect to sell my house for 180k on the low end and 200k on the high end. Wherever I decide to move up north, I would like to cut that almost in half and find a house around 125k, which from what I've been looking at, seems reasonable for what I want to find.

If I can find a mortgage for around 500 to 800, I'm already doing better than I am here, relying on the fact that I find a job where I will be making equal or more than I am now.

I'm basically looking for a cheaper house up north than the one I have here. I think there is a lot I will like about living up north. The scenery, the culture, the politics, etc...

Taxes are a hot button issue everywhere, but from my experience on city data, Mainers tend to get a lot more wrapped up in talking about them than people from other places. Y'all also tend to be more educated on the specifics of tax issues than other people.

Oh...and I'm not retired.

Well, if you are looking for a place more liberal than Tennessee, Maine is for you! You can find houses in Maine in the 125k price range, but probably not anything you would like in an urban area (like Portland). I bought a foreclosed home in Caribou (it was a wreck), restored it, then sold it for a profit. Are you handy? If so, that is an option.

I haven't read what you do for work, but where you move may depend on where you can find it. Good luck!

[Gail19]

I might be relocating in a year to Maine, is Portland a place to start with work? Thank you!

[TexKnox]

I'm very handy.

When I bought my house it was valued at 130k. I did a lot of work to it and had it revalued this year. It's now worth 189k. That's definitely an option. I would kind of like to find something for less and put money into it for improvements. I would like to use the money I have saved and the money I will make off of selling my house to buy a house and POSSIBLY get the balance MUCH lower. I don't want taxes to eat my lunch too badly though.

[Northern Maine Land Man]

Maine didn't rescind the homestead exemption. They cut it back from $13,000 to $10,000 which in Lakeville would amount to an $8.00 a year tax increase.

[Northern Maine Land Man]

In general, Maine is a very liberal state. All four of our congresscritters are progressives. Both houses in the legislature are progressives. Party labels don't mean much.

There are pockets of conservative areas, but nothing like you would see in TN. In the last election, Piscataquis County was the only county in all of New England to vote for the Republican candidate for president. If you want a liberal haven, that should be low on your list.

[bangorme]

Originally Posted by Northern Maine Land Man

Maine didn't rescind the homestead exemption. They cut it back from $13,000 to $10,000 which in Lakeville would amount to an $8.00 a year tax increase.

I thought it was also means tested this year. Maybe I read the letter wrong I just got from them.