The AccessAble Home Tax Credit is a Maine income tax credit available to individuals who earn $55,000 or less for expenses paid for modifications to their residence to make it accessible for a person with a physical disability or physical hardship who lives or will live at the residence.
The Maine Legislature enacted the AccessAble Home Tax Credit to take effect beginning January 1, 2017 for expenses paid in the 2017 calendar year. The credit is noted on 2017 tax forms filed with Maine Revenue Services in 2018.
What types of modifications qualify?
Modifications must make the home more accessible for a person with a physical disability or a physical hardship who lives or will live at the residence to qualify. Some examples are changes to flooring to mitigate tripping hazards, installation of grab bars, installation of access ramps, and widening of doorways. A therapeutic swimming pool, for example, would not qualify. A contractor or homeowner may perform work in addition to the work that makes the home more accessible, but that additional work will not qualify for the credit.
Taxpayers must demonstrate that the work meets the following standards:
- Suitability for the individual with a disability or physical hardship who resides or will reside in the residence;
- General consistency with American National Standards Institute (ANSI) ICC A117.1-2009 standards; and
- Compliance with applicable building codes
What if the amount of credit I am eligible for exceeds the taxes I owe?
The nonrefundable AccessAble Home Tax Credit is equal to the lesser of $9,000 or the applicable percentage of qualified expenses. The credit may not exceed the tax liability of the taxpayer, however, unused portions of the credit may be carried forward for up to four taxable years following the year during which the credit was earned. Taxpayers should consult their tax preparer or Maine Revenue Services for guidance regarding filing requirements and the use of tax credits. MaineHousing is not able to answer questions regarding income tax law, preparation or filing.