This bill:
1. Increases the maximum property tax fairness credit, beginning with tax years beginning on or after January 1, 2025, from $1,500 to $2,000 for taxpayers under 65 years of age and from $2,000 to $2,500 for taxpayers 65 years of age and older; and
2. Establishes the Real Estate Property Tax Relief Task Force. Using data collected at the municipal, county, state and national level, the task force is required to examine the
43 assessment of property taxes and property tax relief programs and make recommendations
44 for improving the process involved in determining, levying and paying property taxes and
45 reducing the tax burden, including possible changes to the Constitution of Maine and other
46 laws. The membership of the task force includes Legislators, economists, tax experts, real
47 estate professionals and representatives of low-income and older residents and is required
48 to be geographically diverse.