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132nd MAINE LEGISLATURE |
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LD 326 |
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LR 657(02) |
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An Act to
Increase the Property Tax Exemption Provided to Individuals Who Are Legally
Blind |
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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 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 |
$29,480 |
$28,000 |
$28,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$29,480 |
$28,000 |
$28,000 |
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| Fiscal Detail
and Notes |
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The bill includes
a one-time General Fund appropriation to the Bureau of Revenue Services
within the Department of Administrative and Financial Services (MRS) of
$29,480 in fiscal year 2026-27 for computer programming costs associated with
the implementation of an increased property tax exemption reimbursement to
municipalities for individuals who are legally blind starting with the
property tax year beginning April 1, 2026. Due to the increased property tax
exemption, MRS will require ongoing annual appropriations of $28,000 to
reimburse municipalities 50% of the property tax lost. |
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