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130th MAINE LEGISLATURE |
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LD 1071 |
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LR 332(02) |
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An Act To Reduce
Property Taxes for Maine Residents |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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Fiscal Note |
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FY 2021-22 |
FY 2022-23 |
Projections FY 2023-24 |
Projections FY 2024-25 |
Net Cost
(Savings) |
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General Fund |
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$0 |
$18,276,000 |
$28,580,000 |
$34,356,000 |
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Appropriations/Allocations |
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General Fund |
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$0 |
$18,276,000 |
$28,580,000 |
$34,356,000 |
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Fiscal Detail
and Notes |
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The bill includes
a General Fund appropriation to the Department of Administrative and
Financial Services of $18,276,000 in fiscal year 2022-23 to increase the
homestead property tax exemption to $30,000 and increase the state
reimbursement to municipalities by 3% per year until it reaches 100%. |
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