Increases state-municipal revenue sharing for municipalities that limit property tax increases for senior residents.
This bill provides additional state-municipal revenue sharing to municipalities that adopt and implement a program to limit annual property tax increases to no more than 2% for senior residents who qualify for the Maine resident homestead property tax exemption. The additional distribution is 20% of the amount the municipality would receive based on its population and property tax burden.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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