132nd MAINE LEGISLATURE
		LD 264		LR 612(03)
	An Act to Remove the 12-month Waiting Period for the Maine Resident Homestead Property Tax Exemption
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2025-26	FY 2026-27	Projections  FY 2027-28	Projections  FY 2028-29
Net Cost (Savings)
	General Fund		$0	$113,000	$153,000	$156,000
Appropriations/Allocations
	General Fund		$0	$113,000	$153,000	$156,000
Fiscal Detail and Notes
	This bill includes a General Fund appropriation of $113,000 in fiscal year 2026-27 to the Bureau of Revenue Services within the Department of Administrative and Financial Services for increased homestead property tax exemption reimbursements to municipalities by removing the 12-month waiting period for the Maine resident homestead property tax exemption to a successor in interest of a deceased resident who had ownership of a homestead at the time of death as long as that successor has been a permanent resident of the municipality in which the deceased's homestead is located for the 12 months prior to the death of the prior owner.