| | | Emergency preamble. Whereas, Acts of the Legislature do not become | | effective until 90 days after adjournment unless enacted as | | emergencies; and |
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| | | Whereas, April 1st is the date each year upon which assessors | | determine who the owners of real estate are for the purpose of | | assessing property taxes; and |
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| | | Whereas, a better accounting of responsibility for property tax | | payments needs to occur between buyers and sellers at the time of | | real estate transfers; and |
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| | | Whereas, a change in law to effect this better accounting should | | happen in time for the April 1st assessments; and |
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| | | Whereas, in the judgment of the Legislature, these facts create | | an emergency within the meaning of the Constitution of Maine and | | require the following legislation as immediately necessary for | | the preservation of the public peace, health and safety; now, | | therefore, |
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| | | Be it enacted by the People of the State of Maine as follows: |
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| | | Sec. 1. 36 MRSA §558, as repealed and replaced by PL 1981, c. 23, | | is amended to read: |
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| | | §558. Taxes prorated between seller and purchaser |
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| | | A purchaser of real estate may agree with the previous owner | | or party to whom the real estate was formerly taxed to pay the | | pro rata or proportional share of taxes. Unless otherwise | specified by the parties to the agreement, the taxes shall | | be prorated over the period of the fiscal year of the | | municipality in which the land is located. |
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| | | At the time of delivery of the deed to the purchaser in a real | | estate transfer, the previous owner or party to whom the real | | estate was formerly taxed shall pay the taxes due in full or post | | a bond in the amount of taxes due in the municipality in which | | the real estate is located.__If the new owner of the real estate | | is to pay a share of taxes under this section, the new owner | | shall, upon delivery of the deed, notify the municipality of the | | real estate transfer and that the new owner will pay the share of | | taxes agreed upon by the parties or required by this section.__ | | Upon the new owner's payment of the new owner's share of taxes, | | the municipality shall reimburse or return to the previous owner | | or party to whom the real estate was formerly taxed an amount of | | the taxes paid or bond posted equal to the amount paid by the new | | owner. |
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