An Act To Allow a Municipality To Abate Taxes Assessed on Property That Is Destroyed
Sec. 1. 36 MRSA §841, sub-§2-A is enacted to read:
Sec. 2. Application. This Act applies to property tax years beginning on or after April 1, 2013.
This bill allows municipal assessors, or the State Tax Assessor for property in the unorganized territory, to abate the property taxes of residential real property that, due to destruction by fire, explosion or natural disaster, suffers at least a 50% decrease in just value to improvements on that residential real property.