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131st MAINE LEGISLATURE |
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LD 37 |
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LR 211(01) |
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An Act to Amend
the Laws Governing Property Tax Stabilization for Senior Citizens to
Eliminate the Requirement for an Annual Application |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Sen. Pouliot of Kennebec |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2023-24 |
FY 2024-25 |
Projections FY 2025-26 |
Projections FY 2026-27 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$200,000 |
$300,000 |
$400,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$200,000 |
$300,000 |
$400,000 |
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| Fiscal Detail
and Notes |
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The Department of
Administrative and Financial Services will require ongoing General Fund
appropriations of $200,000 beginning
in fiscal year 2024-2025 for reimbursement to municipalities for reduced
property tax revenue associated with eliminating the annual application
requirement to maintain eligibility for property tax stabilization. |
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