Bill > LD1168

This bill amends Maine's tax laws to clarify and expand the definition of working waterfront land by introducing a new definition for "commercial boat yard" and modifying the existing definition of "working waterfront land". Specifically, the bill defines a commercial boat yard as a commercial facility that leases storage, docking, or mooring space and is used primarily by commercial fishing activities. The bill also updates the definition of working waterfront land to explicitly include commercial boat yards, alongside existing provisions for land abutting water that supports commercial fishing activities. By making these changes, the bill ensures that commercial boat yards can be considered working waterfront land for tax valuation purposes, which likely means these properties can be assessed at their current use value rather than at their potential market development value. This change could provide tax relief and support for commercial fishing businesses by recognizing the economic importance of maritime infrastructure and helping to preserve working waterfront properties.

Budget and Finance

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1168&snum=132