Bill > LD745

This bill modifies Maine Revised Statutes (MRSA) Title 36, Section 943-C by adding a new subsection that provides municipalities with expanded flexibility in selling tax-acquired property. Specifically, the bill allows a municipality to sell property that it has acquired through tax foreclosure using any method approved by its legislative body, after the legal period for the original property owner to challenge the tax taking has expired. The key provision is that while municipalities can now choose their preferred sales method, they must still ensure that if the sale price exceeds the outstanding tax debt, the excess proceeds are paid to the former property owner. This change provides local governments more discretion in disposing of tax-acquired properties, potentially making it easier to return these properties to productive use or generate municipal revenue, while maintaining a protection for the original property owner by guaranteeing they receive any surplus funds from the sale.

Budget and Finance

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=745&snum=132