LD 218
pg. 1
LD 218 Title Page RESOLUTION, Proposing an Amendment to the Constitution of Maine to Stabilize Re... LD 218 Title Page
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LR 129
Item 1

 
CONCEPT DRAFT

 
SUMMARY

 
This constitutional resolution is a concept draft pursuant
to Joint Rule 208.

 
The constitutional resolution proposes to amend the
Constitution of Maine to limit the ability of municipalities
to increase the valuation of homes. Increased valuations
increase the property taxes levied on those homes. The
limitation would be achieved by establishing a baseline for
property values using the value of the home in 1985. Unless
there were major renovations to the home or the home was sold,
the valuation would stay at the 1985 level. If a home
remained in a family through inheritance, the town could
adjust the value from generation to generation. This
constitutional resolution would not affect the ability of each
municipality to set its own mill rate for property taxes.


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