An Act Regarding the Homestead Property Tax Exemption'and the Property Value Reassessment Process
Maine Legislature, Session 131, LD 2162
Committee Amendment CA_A_H892 (House)
Amends: 36 MRSA §1140-B

COMMITTEE AMENDMENT " ^ " to H.P, 1384, L,D. 2162, "An Act Regarding
the Homestead Property Tax Exemption'and the Property Value Reassessment Process"
Amend the bill by striking out the title and substituting the following;
'An Act Regarding the Current Use Valuation of Working Waterfront Property'
Amend the bill by striking out all of the emergency preamble.
Amend the bill by striking out all of sections 1, 2, 3, 4 and 5,
Amend the bill in section 6 in subsection 1 1 in the 5th line (page 2, line 2 in L.D.) by
inserting after the following: "used" the following: 'primarily or used predominantly'
Amend the bill in section 6 in subsection 1 1 in the 8th line (page 2, line 5 in L,D.) by
striking out the following: "property that includes the residence of the person who owns
the parcel and"
Amend the bill in section 10 in the first blocked paragraph in the 2nd and 3rd lines
(p£ige 2, lines 23 and 24 in L.D.) by striking out the following; "due to market conditions
beYond the owner's control. miury or another incapacitating event"
Amend the bill by inserting after section 10 the followmg;
'See. 11. 36 MRSA §1140-B, sub-§3 is enacted to read:
3, Report. By December 31st of each odd-numbered year. the State Tax Assessor
shall submit a report to the joint standing committee of the Legislature having jurisdiction
over taxation matters that identifies the total value of each sale of working waterfront land
and the value of each sale thatjsj-easonablv related to the working waterfront land, that
cQjiTp_ai'esthe_salei)rice of the working waterfront land to the assessed value of the prouerty
0 and that categorizes the sales data by region, type of commercial use or commercial fishing
use and any other relevant catepories. The report may include any other data _or analYsis
that the assessor finds releYant and any recommendations the assessor develops to assist
municipal assessors in calculating the current us^valye of em'olled working waterfi'ont land
that is used for or supports commercial fishing activities, The report may also include
COMMITTEE AMENDMENT
COMMITTEE AMENDMENT "^-" to H.P, 1384, L.D,2162
,R®S recommendations to amend this subchapter for the purposes of improving or ensuring the
accuracy of current use assessment of working waterfront land.'
Amend the bill by striking out all of the emergency clause,
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section
number to read consecutively.
SUMMARY
This amendment removes provisions from the bill that increase the homestead property
tax exemption for a homestead with an assessed value of less than $100,000 and that
include the owner's residence within a parcel of working waterfront property. The
amendment also removes the emergency provisions from the bill and reinstitutes a
provision of law repealed in 2012 that requires a biennial report of the State Tax Assessor
to the joint standing committee of the Legislature having jurisdiction over taxation matters
containing various information about the value of working waterfront land and other
information useful for administration of the law, The report may also include
recommendations for improving the laws related to current use valuation of working
waterfront property,
FISCAL NOTE REQUmED
(See attached)
COMMITTEE AMENDMENT
Approved: 02/26/24 ftwze.
LD 2162 LR 2718(02)
An Act Regarding the Homestead Property Tax Exemption and the Property Value Reassessment
Process
Fiscal Note for Bill as Amended by Committee Amendment ')u{ (H-Wl^
Committee: Taxation
Fiscal Note Required: Yes
Fiscal Note
Minor cost increase - General Fund
Fiscal Detail and Notes
Any additional costs to the Department of Administrative and Financial Services, Bureau of Revenue Services to
prepare a biennial report to the Legislature regarding working waterfront land value and sales are expected to be
minor and can be absorbed within existing budgeted resources.
LR2718(02) - Fiscal Note - Page 1 of 1