An Act To Increase the Homestead Property Tax Exemption for Certain Persons Who Are at Least 75 Years of Age
Sec. 1. 36 MRSA §683, sub-§1-C is enacted to read:
Sec. 2. 36 MRSA §683, sub-§§3 and 4, as amended by PL 2017, c. 284, Pt. G, §1, are further amended to read:
Sec. 3. 36 MRSA §683, sub-§5, as amended by PL 2015, c. 267, Pt. J, §3, is further amended to read:
Sec. 4. 36 MRSA §685, sub-§2, as amended by PL 2017, c. 284, Pt. G, §2, is further amended to read:
The municipality must provide proof in a form satisfactory to the bureau. The bureau shall reimburse the Unorganized Territory Education and Services Fund in the same manner for taxes lost by reason of the exemptions.
This bill provides an additional $30,000 homestead property tax exemption, for a total exemption of $50,000, for persons who are 75 years of age or older and claimed the homestead as a permanent residence for 10 or more years. The bill requires the State to reimburse municipalities 100% of the revenue lost as a result of the increased exemption for persons 75 years of age or older.