Bath Enrollment in the Property Tax Stabilization Program
The Property Tax Stabilization program has been very popular with Maine's senior residents. This new program allows eligible Mainers aged 65 or older to essentially freeze or stabilize their property tax payments in future years. Under the program, the State of Maine pays any future tax increases for the enrolled homeowner. For details on how to apply, please see our Property Tax Stabilization Questions and Answers page.
Link: List of those who have applied for the program by December 1, 2022 (sorted by owner name) and sorted by property address. These lists are in PDF format.
The charts below record the general characteristics of the 682 applications we recorded as of December 1, 2022. These applications represent more than 40% of the resident homeowners of Bath. Over 50% of the applicants for Property Tax Stabilization are aged 65 to 72.
Applications by Ward
Ward | Num. of applicants | 2022 valuation of enrolled parcels | Tax $ now stabilized | Highest value property enrolled in PTS | Lowest value property enrolled in PTS | Average value of property enrolled in PTS |
1 | 133 | $28,918,600 | $523,872.00 | $516,800 | $73,700 | $217,400 |
2 | 48 | $8,030,900 | $139,431.96 | $651,300 | $103,600 | $167,300 |
3 | 49 | $9,184,400 | $162,330.96 | $441,400 | $95,900 | $187,400 |
4 | 104 | $25,674,500 | $469,516.20 | $794,900 | $112,700 | $246,900 |
5 | 108 | $25,247,100 | $456,494.88 | $801,800 | $115,900 | $233,800 |
6 | 84 | $15,865,400 | $281,222.16 | $1,166,300 | $100,000 | $188,900 |
7 | 156 | $42,495,900 | $780,757.05 | $1,177,200 | $69,300 | $272,400 |
Total | 682 | $155,416,800 | $2,813,625.21 | $1,177,200 | $69,300 | $227,900 |
Applications by Property Type
Property Types | Num. of applicants | 2022 valuation of enrolled parcels | Tax $ now stabilized | Highest value property enrolled in PTS | Lowest value property enrolled in PTS | Average value of property enrolled in PTS |
Apartments 4-7 units | 2 | $435,600 | $7,866.24 | $259,800 | $175,800 | $217,800 |
Condo Unit | 35 | $9,776,800 | $183,167.52 | $785,900 | $124,100 | $279,300 |
Mixed Use | 12 | $2,963,900 | $55,118.76 | $393,000 | $81,100 | $247,000 |
Mobile home | 10 | $1,175,600 | $18,902.64 | $165,600 | $69,300 | $117,600 |
Multiple houses | 11 | $4,679,300 | $90,395.05 | $1,177,200 | $163,300 | $425,400 |
Single family w/in law | 5 | $1,405,200 | $25,810.08 | $344,500 | $217,600 | $281,000 |
Single family waterfront | 33 | $13,617,900 | $258,924.44 | $779,200 | $132,100 | $412,700 |
Single family | 544 | $114,213,700 | $2,042,231.76 | $1,166,300 | $95,900 | $210,000 |
Three family | 5 | $1,342,500 | $25,224.60 | $651,300 | $136,300 | $268,500 |
Two family | 25 | $5,806,300 | $105,984.12 | $526,300 | $109,700 | $232,300 |
Total | 682 | $155,416,800.00 | $2,813,625.21 | $1,177,200 | $69,300 | $227,900 |
Applications for property tax stabilization represent 22% of the 3,035 developed residential parcels in Bath, and 25% of the residential valuation ($626,327,700 total). A quarter of the City’s single family homes (582 of 2,368) have applied for the program.
Those who applied for the property tax stabilization program have an average valuation ($227,900) that is 10% higher than the average for all developed residential properties ($206,400).
Financial Implications of Property Tax Stabilization
One of the concerns that has been raised about the Property Tax Stabilization program is whether or not it is financially sustainable over the long run. Currently, the State of Maine has promised to pay Bath and other Maine communities 100% of the difference between the stabilized tax amount and the actual amount of taxes due each year.
In Bath, property taxes have generally increased annually between 2% and 5%. This year’s applicants for property tax stabilization currently pay $2,813,625.21 in taxes. The following charts show the amount to be paid by the State each year if taxes increase an average of 2% or 5% a year. The percentage in blue indicates the percentage of the total tax bill paid by the State of Maine under the Property Tax Stabilization program. These estimates do not take into account possible future valuation changes caused by any other reason (such as home improvements or home construction after a catastrophic event), although under the Property Tax Stabilization statute, the State of Maine is responsible for all future increases in property taxes regardless of the cause.
For more information on the impact of Maine's Property Tax Stabilization Program, please see the full report prepared by the Assessor's Office.