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ME LD1112
Bill
Status
6/11/2025
Primary Sponsor
Ann Matlack
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AI Summary
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Proposes amending the Maine Constitution to require the state to reimburse municipalities at least 90% (up from 50%) of property tax revenue losses from residential real estate exemptions for veterans, legally blind persons, and qualifying homesteads of permanent residents
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Establishes a minimum homestead exemption of $50,000 starting April 1, 2026, with annual adjustments based on the consumer price index
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Requires the state to distribute at least 5% of state sales and income tax revenues to municipalities, with any future increases above 5% protected from reduction
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Would be submitted to voters as a constitutional referendum in November following passage, requiring two-thirds approval from both legislative chambers to place on the ballot
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Reimbursement for property tax exemptions on unextracted minerals would remain optional rather than mandatory
Legislative Description
RESOLUTION, Proposing an Amendment to the Constitution of Maine Requiring Not Less Than 90 Percent State Reimbursement for Residential Real Estate Property Tax Exemptions and to Establish a Minimum Homestead Exemption
Property Tax
Last Action
Placed in Legislative Files (DEAD)
6/11/2025