Provides 100% of the Maine resident homestead property tax exemption to seniors and veterans.
The bill amends the Maine resident homestead property tax exemption to provide 100% of the exemption amount to eligible individuals, regardless of the municipality's assessment ratio. Eligible individuals include those who are 65 years of age or older or veterans who served in the U.S. Armed Forces. The state will reimburse municipalities for 100% of the revenue lost due to this full exemption, effective for property tax years beginning on or after April 1, 2026.
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