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129th MAINE LEGISLATURE |
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LD 1042 |
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LR 1721(02) |
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An Act To Exempt
Disabled Veterans from Property Taxes in Accordance with Their Disability
Ratings |
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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 2019-20 |
FY 2020-21 |
Projections FY 2021-22 |
Projections FY 2022-23 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$0 |
$540,000 |
$675,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$0 |
$540,000 |
$675,000 |
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| Fiscal Detail
and Notes |
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This bill expands
the current disabled veterans' property tax exemption to include individuals
who do not qualify because of age or service requirements. The Department of Administrative and
Financial Services will require an ongoing General Fund appropriation of
$540,000 beginning in fiscal year 2021-22 to reimburse municipalities for
100% of the reduced property tax revenue. |
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