PROPERTY TAX RELIEF BILL ADVANCES

AUGUSTA—This morning the Senate unanimously gave initial approval to a bill to increase property tax relief for Maine families.

“Rising property taxes are hurting many Maine families and seniors who are struggling to stay in their homes,” said Assistant Senate Majority Leader Anne Haskell of Portland, the Senate Chair of the Taxation Committee. ”This bill will provide property tax relief to the people who need it most.”

The measure would increase the dollar amount of property tax credits for low and middle income residents and the number of families that would qualify. It creates a Property Tax Fairness Fund or savings account, which would sets aside 10 percent of revenue surplus in the General Fund.

The budget proposed by Governor Paul LePage last year eliminated a key property tax relief program referred to as “Circuit Breaker” for residents under 65 who are not veterans.  The bipartisan budget passed by a supermajority of the Legislature contained a compromise that sought to provide broad property tax relief to as many Maine families as possible, but had to do so at a lower dollar amount.  The bill, sponsored by Speaker of the House Mark Eves, aims to bolster that credit.

The bill, LD 1751 “An Act To Provide Property Tax Relief to Maine Residents,” faces further votes in the House.