Constitution, Art. IX, §8, sub-§6 is enacted to read:

6.__Assessment and taxation of real property beginning April 1, 2006.__Beginning with taxes based on the status of property on or after April 1, 2006, all taxes on real property subject to taxation in the State must be assessed based on the base property value of the property.__For purposes of this subsection, "base property value" means the just value of the property on April 1, 2006 or on the April 1st preceding the date on which the owner acquired the property, whichever is later, as adjusted under this subsection.__Unless there is a change of ownership of the property, the base property value on each April 1st may be adjusted only to reflect the just value of any improvements or degradations to the property since the last assessment and by the lower of the actual increase in just value and the same percentage as the percentage increase in the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index since the last valuation of the property.__When there is a change of ownership of the property, the base property value must be adjusted to the just value of the property on the April 1st preceding the change of ownership or the purchase price, whichever is higher.__The Legislature may enact legislation to provide for the administration of this subsection.

; and be it further

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:

"Do you favor amending the Constitution of Maine to base the taxation of real property on the base property value of the property as of April 1, 2006 and to limit increases in the base value of property to the lower of the rate of inflation and the actual increase in value of the real property, unless there is a change of ownership?"

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