121st Maine Legislature
		Office of Fiscal and Program Review
		LD 1
		An Act to Increase the Property Tax Exemption for Veterans
		LR 0078(01)
		Fiscal Note for Original Bill
		Sponsor: Rep Pineau
		Committee: Taxation
		Fiscal Note Required: Yes
Fiscal Note
					Projections	Projections
			2003-04	2004-05	2005-06	2006-07
Net Cost (Savings)
	General Fund		$2,500	$2,195,000	$2,210,000	$2,230,000
Appropriations/Allocations
	General Fund		$2,500	$2,195,000	$2,210,000	$2,230,000
Fiscal Detail and Notes
	Maine Revenue Services will require a General Fund appropriation of $2,195,000 in fiscal year 2004-05 to
	reimburse each municipality 50% of the property tax revenue loss suffered by that municipality as a result
	of increasing the property tax exemption for veterans.  Maine Revenue Services will also require a
	General Fund appropriation of $2,500 in fiscal year 2003-04 to revise and distribute related forms.
	This estimate is based on continuing a "just value" standard.