Bill > LD1591

This bill proposes to grant municipalities in Maine the ability to assess property taxes at different rates based on the property's use, but only if a constitutional amendment is first passed to allow such taxation. Specifically, the bill would enable local governments to apply different mill rates (tax rates) or classification ratios for three types of property: homestead residences (primary homes), non-homestead residential properties (such as vacation homes or rental properties), and commercial properties. The bill includes an important requirement that properties used for similar purposes must be taxed consistently. Additionally, if a property is used for commercial purposes that comprise more than 25% of its total use, the tax for that commercial portion would be calculated separately according to its specific use. The term "classification ratio" is defined in the bill as a comparison of effective tax rates between two types of property. This legislation provides municipalities with more flexible tools to potentially adjust property tax structures to meet local economic and community needs.

Budget and Finance

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1591&snum=132