New Property Tax Law Won't Float Mainers

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The speaker of the state House has introduced a new property tax law for Maine, replacing a previous program but offering less refunds. Tax relief specialists at Instant Tax Solutions say the move is part of a nationwide trend of cutting refunds to balance state budgets.

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Speaker of the state House of Representatives Mark Eves has introduced a bill aimed at preserving property tax credits and refunds, but criticized as providing too little relief to most households. The tax specialists of Instant Tax Relief say the bill is just the latest in a move by many states to cut credits rather than raising taxes.

The new bill is designed to replace a previous program of property tax and rent refunds nicknamed the “circuit breaker”, which the state Legislature repealed earlier this year according to the Maine Sunday Telegram (08.08.2013). However, the new program would not provide as much relief to low income or middle class residents.

Instant Tax Solutions is a tax relief firm that helps citizens who owe more taxes than they can pay. According to the firm, more states will see tactics similar to those employed in Maine, because many states are torn between a need for more revenue and the difficulty of raising taxes.

In Maine, the new maximum benefit for those who qualify would be $300 for the year, or $400 for those over 70 years of age. The previous program offered refunds ranging from nearly $500 to $1,600, but cutting it saved the state over $20 million.

Like Maine, most states face a tight budget and are unlikely to offer new credits or refunds. To Instant Tax Solutions, that means more Americans will be stuck with a heavy tax burden.

The firm recommends that anyone facing a high tax bill should seek tax relief counselling as soon as possible.

About Instant Tax Solutions:

Instant Tax Solutions is your partner in immediate tax relief. With a skilled team of legal counsel, CPA's and former IRS revenue officers standing by to help relieve or resolve your tax problems, Instant Tax Solutions offers low stress, results driven assistance with a high rate of success. ITR offers a free initial consultation and a simple flat rate for all clients. They can be contacted at http://instanttaxsolutions.com.

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Ian Woodman
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