FINANCIAL ADVANTAGE
Additional Benefits for Maine Veterans
Maine Veterans and their families may qualify for valuable state benefits that can reduce property taxes, lower higher-education costs, and make homeownership more affordable. Understanding the Maine disabled Veteran benefits available to you—from property tax exemptions to dependent tuition waivers and military homebuyer programs—can help you make the most of the benefits you’ve earned through military service.
Tax Relief
Property Tax Benefits for Veterans in Maine
- Qualifying Veterans can receive an exemption from the taxable value of their home. Under Maine's current property tax program, Veterans who served during a recognized war period and are age 62 or older, receive 100% disability as a Veteran, or became 100% disabled while serving can qualify for an exemption of $6,000 of the just value of their home.
- Certain totally and permanently disabled Veterans can receive a substantially larger exemption. A Veteran who received a federal grant for a specially adapted housing unit can qualify for an exemption of $50,000 of the just value of their home. Veterans generally apply through the local municipal assessor where the property is located.
Family Tuition Assistance
Education Benefits for Maine Veterans & Families
- Spouses and dependents of qualifying Veterans can receive a 100% waiver of tuition and mandatory fees. Maine's Veterans Dependents Educational Benefits Program is available to qualifying family members of Veterans with a 100% total and permanent service-connected disability, as well as families of certain Veterans who were killed in action, died from a service-connected disability, or meet qualifying MIA, captured, or detained criteria.
- The waiver can be used throughout Maine's public higher-education systems. Eligible students can use the benefit at schools within the University of Maine System, Maine Community College System, and Maine Maritime Academy. Students must apply for a Federal Pell Grant as part of the program's eligibility requirements.
Home Financing
Home Loan Benefits for Maine Veterans
- Maine offers a dedicated mortgage benefit for Veterans and military members. MaineHousing's SaluteME program provides qualified Veterans, Active Duty personnel, and retired military personnel with a 0.50 percentage-point discount from MaineHousing's First Home Loan 30-year fixed interest rate.
- Veterans don't necessarily have to be first-time homebuyers. MaineHousing waives the First Home Loan program's first-time homebuyer requirement for qualifying Veterans who previously owned a home. Eligible borrowers remain subject to the program's income, property, credit, occupancy, and other requirements.