Bill > LD2124

This bill modifies how revenue from the real estate transfer tax, a tax levied when property ownership changes, is distributed. Currently, 90% of this tax revenue goes to the state and 10% is kept by counties, though this county retention is temporarily reduced for fiscal years 2025-26 and 2026-27. Starting September 1, 2026, the bill reduces the percentage of real estate transfer tax revenue retained by counties by 1.8%, meaning counties will keep 8.2% instead of the current 10%. Additionally, beginning September 1, 2026, 1% of the collected tax revenue will be transferred to the Maine State Housing Authority for its shelter operating subsidy program, which helps fund emergency shelters. Then, starting August 1, 2027, this transfer to the Maine State Housing Authority will increase to 1.8% of the revenue, also for the shelter operating subsidy program.

Housing and Urban Affairs

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=2124&snum=132