An Act to Provide 100 Percent of the Maine Resident Homestead Property Tax Exemption Amount to Seniors and Veterans

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Plain-English Summary

This bill changes the Maine resident homestead property tax exemption for seniors and veterans. Starting April 1, 2026, permanent residents who are 65 or older or are veterans will receive 100% of the exemption amount, regardless of their town's assessment ratio. The state will also fully reimburse towns for the property tax revenue lost due to these exemptions, instead of the current 76% reimbursement.

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