An Act To Implement a Local Ballot Referendum for Municipalities To Disallow Tax-exempt Status to Large Land Trusts
Sec. 1. 36 MRSA §652, sub-§2 is enacted to read:
Current law provides a property tax exemption to certain property of benevolent and charitable institutions, including land trusts, incorporated in this State.
This bill allows a municipality, by referendum, to deny tax-exempt status to a land trust that is at least 20 acres in size. If the municipality denies tax-exempt status for a land trust, it must deny tax-exempt status to all land trusts of at least 20 acres located in that municipality.