| | | Constitutional amendment. Resolved: Two thirds of each branch of the | | Legislature concurring, that the following amendment to the | | Constitution of Maine be proposed: |
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| | | Constitution, Art. IX, §8, sub-§6 is enacted to read: |
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| | | 6.__Homestead land value.__A municipality may limit the rate | | of change in the taxable value of homestead land to the rate of | | change in purchasing power of United States currency as | | consistently measured by a reliable index adopted by the | | Legislature.__This limitation does not apply to changes in value | | arising from physical alterations to the land or arising from | | changes in law affecting authorized use of the land. |
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| | | Homestead land is land that is exclusively and continuously owned | | by one or more residents of the State while the land remains the | | principal home of each owner.__The taxable value of the parcel | | must be restored to just value upon change in ownership or use.__ | | A homestead parcel qualifying for the limitation may not be | | larger than reasonably necessary to support a personal residence | | and may be otherwise limited or defined by the Legislature. |
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| | | The decision by a municipality to limit the rate of change in | | taxable value of homestead land under this subsection does not | | affect the determination of the equalized just value of taxable | | property in the municipality for any purpose. |
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| | | Constitutional referendum procedure; form of question; effective date. Resolved: | | That the municipal officers of this State shall notify the | | inhabitants of their respective cities, towns and plantations to | | meet, in the manner prescribed by law for holding a statewide | | election, at a statewide election, on the Tuesday following the | | first Monday of November following the passage of this | | resolution, to vote upon the ratification of the amendment | | proposed in this resolution by voting upon the following | | question: |
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| | | "Do you favor amending the Constitution of Maine to allow | | municipalities to limit the rate of change in the taxable | | value of homestead land to the rate of change in purchasing | | power of United States currency as consistently measured by | | a reliable index adopted by the Legislature?" |
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| | | The legal voters of each city, town and plantation shall vote | | by ballot on this question and designate their choice by a cross | | or check mark placed within the corresponding square below the | | word "Yes" or "No." The ballots must be received, sorted, |
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