LD 902
pg. 1
LD 902 Title Page RESOLUTION, Proposing an Amendment to the Constitution of Maine To Change the M... Page 2 of 2
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LR 10
Item 1

 
Constitutional amendment. Resolved: Two thirds of each branch of the
Legislature concurring, that the following amendment to the
Constitution of Maine be proposed:

 
Constitution, Art. IX, §8, sub-§6 is enacted to read:

 
6.__Assessment and taxation of real property beginning April
1, 2006.__Beginning with taxes based on the status of property on
or after April 1, 2006, all taxes on real property subject to
taxation in the State must be assessed based on the base property
value of the property.__For purposes of this subsection, "base
property value" means the just value of the property on April 1,
2006 or on the April 1st preceding the date on which the owner
acquired the property, whichever is later, as adjusted under this
subsection.__Unless there is a change of ownership of the
property, the base property value on each April 1st may be
adjusted only to reflect the just value of any improvements or
degradations to the property since the last assessment and by the
lower of the actual increase in just value and the same
percentage as the percentage increase in the United States
Department of Labor, Bureau of Labor Statistics Consumer Price
Index since the last valuation of the property.__When there is a
change of ownership of the property, the base property value must
be adjusted to the just value of the property on the April 1st
preceding the change of ownership or the purchase price,
whichever is higher.__The Legislature may enact legislation to
provide for the administration of this subsection.

 
; and be it
further

 
Constitutional referendum procedure; form of question; effective date. Resolved:
That the municipal officers of this State shall notify the
inhabitants of their respective cities, towns and plantations to
meet, in the manner prescribed by law for holding a statewide
election, at a statewide election, on the Tuesday following the
first Monday of November following the passage of this
resolution, to vote upon the ratification of the amendment
proposed in this resolution by voting upon the following
question:

 
"Do you favor amending the Constitution of Maine to base the
taxation of real property on the base property value of the
property as of April 1, 2006 and to limit increases in the
base value of property to the lower of the rate of inflation
and the actual increase in value of the real property,
unless there is a change of ownership?"

 
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 the corresponding square below


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