| | | B.__The estate up to the just value of $5,000 for homesteads | | with a just value of at least $125,000 but less than | | $250,000; and |
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| | | C.__The estate up to the just value of $2,500 for homesteads | | with a just value of $250,000 or greater. |
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| | | Sec. BB-2. 36 MRSA §683, sub-§1-A is enacted to read: |
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| | | 1-A.__Local assessed value of the exemption.__In determining | | the local assessed value of the exemption for purposes of | | subsection 1, the assessor shall multiply the amount of the | | exemption by the ratio of current just value upon which the | | assessment is based as furnished in the assessor's annual return | | pursuant to section 383.__In determining the amount of just value | | exemption applicable to each estate for purposes of subsection 1, | | the assessor shall divide the local assessed value of each estate | | by the ratio of current just value upon which the assessment is | | based.__If the title to a homestead is held by the applicant | | jointly or in common with others, the exemption may not exceed | | $7,000 of the just value of the homestead with a just value of | | less than $125,000, or $5,000 of the just value of the homestead | | with a just value of at least $125,000 but less than $250,000, or | | $2,500 of the just value of the homestead with a just value of | | $250,000 or greater, but may be apportioned among the owners who | | reside on the property to the extent of their respective | | interests.__A municipality responsible for administering the | | homestead exemption has no obligation to create separate accounts | | for each partial interest in a homestead owned jointly or in | | common. |
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| | | Sec. BB-3. Application. This Part applies to property tax | | valuations determined on or after April 1, 2003. |
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| | | Sec. CC-1. 36 MRSA §2513, as amended by PL 1997, c. 496, §1 and c. | | 660, Pt. B, §4, is further amended to read: |
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| | | §2513. Tax on premiums and annuity considerations |
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| | | Every insurance company or association that does business or | | collects premiums or assessments including annuity considerations | | in the State, except those mentioned in section 2517, including | | surety companies and companies engaged in the business of credit | | insurance or title insurance, shall, for the privilege of doing | | business in this State, and in addition to any other taxes | | imposed for such privilege pay a tax upon all gross direct | | premiums including annuity considerations, whether in cash or |
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