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128th MAINE LEGISLATURE |
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LD 974 |
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LR 2077(02) |
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An Act To
Increase the Homestead Exemption |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2017-18 |
FY 2018-19 |
Projections FY 2019-20 |
Projections FY 2020-21 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$75,700,000 |
$103,400,000 |
$106,600,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$75,700,000 |
$103,400,000 |
$106,600,000 |
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| Fiscal Detail
and Notes |
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This bill
increases the homestead property tax exemption to $30,000 and provides for
100% reimbursement to municipalities for property tax years beginning April
1, 2018. The bill includes a General
Fund appropriation of $75,700,000 to the Department of Administrative and
Financial Services in fiscal year 2018-19 to reimburse municipalities. |
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