129th MAINE LEGISLATURE
		LD 1234		LR 668(02)
	An Act To Expand the Value of the Homestead Exemption to $25,000 and State Reimbursement to 100 Percent of Lost Property Tax Revenue
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2019-20	FY 2020-21	Projections  FY 2021-22	Projections  FY 2022-23
Net Cost (Savings)
	General Fund		$0	$20,580,000	$27,590,000	$27,780,000
Appropriations/Allocations
	General Fund		$0	$20,580,000	$27,590,000	$27,780,000
Fiscal Detail and Notes
	The bill includes a General Fund appropriation to the Department of Administrative and Financial Services of $20,580,000 in fiscal year 2020-21 to increase the homestead property tax exemption from $20,000 to $25,000 and to increase the reimbursement to municipalities from 62.5% to 70%.