This bill increases the reimbursement rate by the State to municipalities for revenue lost as a result of the Maine resident homestead property tax exemption by 3 percentage points each year, beginning in 2026, until the reimbursement rate is 100%, which would be in 8 years under the bill. The current rate of reimbursement is 76%.

Statutes affected:
Bill Text LD 1729, SP 675: 36.685