LD 37 LR 211(01)
An Act to Amend the Laws Governing Property Tax Stabilization for Senior Citizens to Eliminate the Requirement for an Annual Application
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Pouliot of Kennebec
Committee: Taxation
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2023-24 FY 2024-25 Projections  FY 2025-26 Projections  FY 2026-27
Net Cost (Savings)
General Fund $0 $200,000 $300,000 $400,000
General Fund $0 $200,000 $300,000 $400,000
Fiscal Detail and Notes
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.