LD1591

Allows municipalities to tax property according to use if permitted by a constitutional amendment.

This bill allows municipalities to assess differential mill rates, classification ratios, or other means of differential taxation of property according to use, including homestead residences, nonhomestead residential property, and property for commercial use. The bill stipulates that property must be taxed consistently across all types of property used for similar purposes. If a property is used for commercial purposes constituting more than 25% of the property, the tax for that portion must be calculated according to use.