ME LD1770

Establishes a 13-member Real Estate Property Tax Relief Task Force with bipartisan legislative appointments and public members representing economists, low-income residents, seniors, municipal officials, business owners, and housing/tax experts

Requires the task force to contract with an external entity for data collection and analysis on property tax burdens, municipal valuation practices, and disparities across Maine's regions, with $125,000 appropriated for FY2025-26 and $25,000 for FY2026-27

Directs study of property tax relief programs in other states, potential constitutional amendments to enable more equitable tax policies, and mechanisms to ensure municipalities use relief funds effectively

Task force must meet 4-8 times, submit an interim report by January 15, 2026, and a final report with legislative recommendations by December 15, 2026 to the Joint Standing Committee on Taxation

Enacted as emergency legislation, effective July 1, 2025, citing Maine's housing crisis, rising property taxes burdening first-time buyers and seniors on fixed incomes, and municipalities lacking resources for accurate assessments