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121st Maine Legislature |
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Office of Fiscal and Program Review |
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LD 1824 |
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An Act
To Provide Property Tax Relief to Maine Homeowners |
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LR 2194(16) |
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Fiscal Note for Senate Amendment " " |
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Sponsor: Sen. Damon |
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Fiscal Note Required: Yes |
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Fiscal Note |
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Current biennium cost increase - General Fund |
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Potential future biennium cost increase - General Fund |
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Referendum
Costs |
Month/Year |
Election Type |
Question |
Length |
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Nov-04 |
General |
Referendum |
Standard |
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The Secretary of
State's budget includes sufficient funds to accommodate one ballot of average
length for the general election in November. If the number or size of the
referendum questions increases the ballot length, an additional appropriation
of $8,000 or more may be required. |
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If
approved by the voters in November 2004, this bill would implement a
Homestead Tax Cap Program. The
estimated annual reduction of General Fund revenue as a result of this
program would be approximately $45,000,000 beginning in fiscal year
2005-06. The annual administrative
costs would be approximately $150,000. |
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