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132nd MAINE LEGISLATURE |
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LD 264 |
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LR 612(01) |
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An Act to Remove
the 12-month Waiting Period for the Maine Resident Homestead Property Tax
Exemption |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Rep. Hepler of Woolwich |
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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 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$1,598,000 |
$2,159,000 |
$2,197,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$1,598,000 |
$2,159,000 |
$2,197,000 |
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| Fiscal Detail
and Notes |
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The Bureau of
Revenue Services within the Department of Administrative and Financial
Services will require a General Fund appropriation of $1,598,000 in fiscal
year 2026-27 for increased homestead property tax exemption reimbursements to
municipalities by removing the 12-month waiting period before eligible
applicants may receive Maine resident homestead property tax exemptions. |
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