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130th MAINE LEGISLATURE |
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LD 1448 |
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LR 1597(02) |
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An Act To
Increase State Reimbursement to Municipalities for Revenue Lost Due to the
Homestead Property Tax Exemption |
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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 2021-22 |
FY 2022-23 |
Projections FY 2023-24 |
Projections FY 2024-25 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$14,509,293 |
$19,638,821 |
$20,035,479 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$14,509,293 |
$19,638,821 |
$20,035,479 |
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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 $14,509,293 in fiscal year 2022-23 to increase the
homestead property tax exemption from $25,000 to $30,000 effective April 1,
2022. |
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