"If an amendment to the Constitution of Maine is approved permitting the Legislature to establish a different method of assessment of property taxes on land used for long-term ownership, do you favor ratifying the action of the 121st Legislature whereby it passed an Act establishing the Maine Land Bank and Community Preservation Program?"

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 a corresponding square below the word "Yes" or "No." The ballots must be received, sorted, counted and declared in open ward, town and plantation meetings and returns made to the Secretary of State in the same manner as votes for members of the Legislature. The Governor shall review the returns and, if it appears that a majority of the legal votes are cast in favor of the Act, the Governor shall proclaim that fact without delay, and the Act takes effect 30 days after the date of the proclamation.

The Secretary of State shall prepare and furnish to each city, town and plantation all ballots, returns and copies of this Act necessary to carry out the purposes of this referendum.

SUMMARY

This bill proposes to provide property tax relief to property owners in the State. Under the bill, a voluntary Maine Land Bank and Community Preservation Program is created for residential and nonresidential real estate. The program would apply to land only and not buildings. The base value of land would be determined by looking back 5 years to the assessed value of the land as adjusted by using the state- certified ratio for that year. The program would include provisions requiring adjustments or penalties in cases when there is a change in ownership other than to a family member or by designated bequest or the land is withdrawn from the program. The entire bill is subject to a statutory referendum and is conditional upon an amendment to the Constitution of Maine passing at the next statewide election.