Sec. 1. 36 MRSA §713-C is enacted to read:

§713-C.__Automatic review of assessment

If a state law or rule is enacted that may reduce the value of a taxable private property within an assessor's jurisdiction, the assessor, within 30 days of the enactment of the state law or rule, shall review the assessment of the private property that may be devalued.__If the assessor determines that the value of a private property within the assessor's jurisdiction has been devalued by the state law or rule, the assessor shall conduct a new assessment of the private property.__The new assessment applies retroactively to the date of the enactment of the law or rule that reduces the private property's value.

SUMMARY

This bill requires a tax assessor to review the assessment of a taxable private property in the assessor's jurisdiction within 30 days of enactment of a state law or rule that may reduce the value of the private property. If the assessor determines that the state law or rule does devalue the private property, this bill requires the assessor to conduct a new assessment of the private property. The new assessment applies retroactively to the date of the enactment of the law or rule that reduces the private property's value.