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Bill > LD1112
ME LD1112
ME LD1112RESOLUTION, Proposing an Amendment to the Constitution of Maine Requiring Not Less Than 90 Percent State Reimbursement for Residential Real Estate Property Tax Exemptions and to Establish a Minimum Homestead Exemption
summary
Introduced
03/18/2025
03/18/2025
In Committee
03/18/2025
03/18/2025
Crossed Over
Passed
Dead
06/11/2025
06/11/2025
Introduced Session
Potential new amendment
132nd Legislature
Bill Summary
This resolution proposes to amend the Constitution of Maine to require the Legislature to reimburse municipalities for not less than 90% of the lost property tax revenue associated with residential real estate exemptions extended to veterans of the Armed Forces of the United States and persons who are legally blind and for qualifying homesteads of permanent residents of this State. The resolution also establishes the minimum homestead exemption at $50,000, which must be adjusted annually by the percentage change in the consumer price index, or similar inflationary index. The resolution also provides that, at a minimum, no less than 5% of state sales and income tax revenues must be shared with municipalities and protects future increases in the percentage of state sales and income tax revenues distributed to municipalities.
AI Summary
This bill proposes a constitutional amendment in Maine that would require the state legislature to reimburse municipalities for at least 90% of property tax revenue lost due to specific residential real estate tax exemptions, including exemptions for veterans, legally blind individuals, and qualifying homesteads of permanent residents. Starting April 1, 2026, the homestead exemption would be set at a minimum of $50,000 and would be adjusted annually based on changes in the consumer price index. The amendment also mandates that municipalities receive no less than 5% of state sales and income tax revenues, with a provision protecting any future increases in the percentage of tax revenues distributed to municipalities. If approved by voters in a November statewide referendum, this constitutional amendment would ensure more substantial financial support for local governments and provide greater tax relief for specific groups of homeowners, with built-in protections against potential future reductions in municipal funding.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
House: C-A (H-607) - House: C-A (H-607) (on 03/11/2026)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1112&snum=132 |
| House: C-A (H-607) | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0731&item=2&snum=132 |
| Fiscal Note: C-A (H-607) | https://legislature.maine.gov/legis/bills/bills_132nd/fiscalpdfs/FN111202.pdf |
| Fiscal Note: Text | https://legislature.maine.gov/legis/bills/bills_132nd/fiscalpdfs/FN111201.pdf |
| BillText | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0731&item=1&snum=132 |
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