An Act To Reduce Property Taxes for Maine Residents
Sec. 1. 36 MRSA §683, sub-§1-B, as enacted by PL 2015, c. 267, Pt. J, §1, is amended to read:
Sec. 2. 36 MRSA §683, sub-§§3 and 4, as amended by PL 2017, c. 284, Pt. G, §1, are further amended to read:
Sec. 3. 36 MRSA §685, sub-§2, as amended by PL 2017, c. 284, Pt. G, §2, is further amended to read:
The municipality must provide proof in a form satisfactory to the bureau. The bureau shall reimburse the Unorganized Territory Education and Services Fund in the same manner for taxes lost by reason of the exemptions.
This bill increases the total exemption under the Maine resident homestead property tax exemption program to $50,000 for property tax years beginning on or after April 1, 2020. This bill also increases state reimbursement to municipalities for homestead property tax exemptions from 62.5% to 100% for property tax years beginning on or after April 1, 2020.