125th MAINE LEGISLATURE
		LD 305		LR 600(01)
	RESOLUTION, Proposing an Amendment to the Constitution of Maine To Allow Land and Buildings To Be Assessed Differently
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Chipman of Portland
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium cost increase - General Fund
Referendum Costs		Month/Year	Election Type	Question	Length
		Nov-11	General	Referendum	Standard
	The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general election in November.  If the number or size of the referendum questions requires production and delivery of a second ballot, an additional appropriation of $107,250 may be required.
Fiscal Detail and Notes
	Any impact to this bill is contingent on passage of this constitutional change by the voters at referendum.  Amending the Constitution of Maine to allow land and buildings to be assessed property taxes at different rates could result in administrative costs to Maine Revenue Services when administering the new property tax system in the Unorganized Territory including but not limited to costs for new forms, course materials, training and outreach efforts and possibly adjustments to the State Valuation process.  The bill provides no guidance on how the dual rates are to set.  Currently the property tax rates are a product of dividing the amount of property tax to be raised by the total valuation of all property.