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| Part F directs the Maine State Housing Authority to create a tax |
| deferral program. The tax relief option in this section would |
| permit any Maine resident to defer property tax payments on a |
| principal residence, so that no Maine resident will have to pay |
| more than 6% of income in property taxes. The program must require |
| repayment, with interest, of deferred property tax amounts upon |
| transfer of the property. The program must provide for securing |
| the property tax payments deferred, consider equity in the property |
| and provide for low transaction costs and provide for ease of |
| application for program participants. The Maine State Housing |
| Authority and Maine Revenue Services must examine combining |
| administration of the tax deferral program and Maine Residents |
| Property Tax Program. |