Reverse mortgage

Instead of paying annually, property taxes for qualifying homeowners would accrue each year. Taxes would be paid when the home is sold.

• Who benefits? Would help fixed-income elderly.

• Drawbacks: Could reduce inheritances significantly. Would make city finances less predictable since property taxes on many homes would be paid years down the road.

• Can they do it? Not right now. State legislators would have to pass new tax rules allowing this sort of thing.

Local homestead exemption

Would give people who live in Lewiston a break on their taxes.

• Who benefits? Homeowners would be eligible, but not businesses, landlords or people with camps or summer homes.

• Drawbacks: Not legal under existing state regulations.

• Can they do it? Portland tried it several years ago, but it was ruled unconstitutional. New rules would have to be carefully worded to be acceptable to the courts.

Phase-in new values

Property values on single-family homes would increase each year until they reached full value.

• Who benefits? Homeowners whose property has increased significantly since the last assessment.

• Drawbacks: Would only delay the inevitable increase of tax bills, not stop it. People whose property values decreased would actually pay more than their fair share.

• Can they do it? Auburn is phasing in all property values now and Portland has done it. Lewiston’s plan would be different since only residential homeowners would get the benefit. That violates the “equal apportionment” rules in the Maine Constitution.

Source: City Administrator Jim Bennett