123rd MAINE LEGISLATURE
		LD 288		LR 33(01)
	An Act To Increase the State Share of the Homestead Exemption to 70%
	Fiscal Note for Original Bill
	Sponsor: Rep. Flood of Winthrop
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
State Mandate - Unfunded
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		$11,591,524	$11,781,892	$11,872,204	$11,790,861
Appropriations/Allocations
	General Fund		$11,591,524	$11,781,892	$11,872,204	$11,790,861
State Mandates
	Required Activity				Unit Affected	Costs
	Administrative costs associated with the increased percent of exempt value, particularily if the timing of enactment results in municipalities needing to adjust the assessments				Municipality	Significant
Fiscal Detail and Notes
	The General Fund cost of increasing municipal reimburement for the Homestead exemption to 70% is estimated to be $11,591,524 in fiscal year 2007-08 and $11,781,892 in fiscal year 2008-09.