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129th MAINE LEGISLATURE |
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LD 164 |
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LR 268(02) |
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An Act To Reduce
Property Taxes for Maine Residents |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2019-20 |
FY 2020-21 |
Projections FY 2021-22 |
Projections FY 2022-23 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$71,960,000 |
$96,450,000 |
$97,130,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$71,960,000 |
$96,450,000 |
$97,130,000 |
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| Fiscal Detail
and Notes |
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The bill includes
a General Fund appropriation to the Department of Administrative and
Financial Services of $71,960,000 in fiscal year 2020-21 to increase the
homestead property tax exemption from $20,000 to $30,000 and to increase the
reimbursement to municipalities from 62.5% to 100%. |
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