An Act To Incrementally Increase The Homestead Property Tax Exemption
Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD)
Summary
The bill would replace Maine’s current homestead exemption rule with a schedule that adds a larger exemption each year, eventually reaching a total additional exemption of $85,000. It applies to any homeowner who qualifies for the existing homestead exemption, lowering their property tax bill. Starting in 2033, the exemption amount would be adjusted each year for inflation using the chained consumer price index.
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