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ME LD570

Bill

Official Source

Status

Failed

4/8/2025

Primary Sponsor

Cameron Reny

Click for details

Origin

Senate

132nd Legislature

AI Summary

  • Creates an additional $75,000 homestead property tax exemption for qualifying Maine residents, increasing the total exemption to $100,000 beginning April 1, 2026

  • Eligibility requires the homeowner to already qualify for existing homestead exemptions under Maine law

  • Income limits for the additional exemption: $200,000 for married couples filing jointly, $150,000 for head of household filers, $100,000 for single filers or married individuals filing separately

  • Qualification is based on federal adjusted gross income from the prior tax year

Legislative Description

An Act to Provide an Additional Maine Resident Homestead Property Tax Exemption Based on Income

Property Tax

Last Action

Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)

4/8/2025

Committee Referrals

Taxation2/19/2025

Full Bill Text

No bill text available