LD140 • 2025

An Act to Incrementally Increase the Homestead Property Tax Exemption

Taxes

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: Senator Joseph Baldacci
Last action: 2026-04-29
Official status: Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES . (DEAD)
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act to Incrementally Increase the Homestead Property Tax Exemption

An Act to Incrementally Increase the Homestead Property Tax Exemption Sponsor: Senator Joseph Baldacci Reference committee: Taxation Latest committee action: Reported Out; OTP-AM

What This Bill Does

An Act to Incrementally Increase the Homestead Property Tax Exemption Sponsor: Senator Joseph Baldacci Reference committee: Taxation Latest committee action: Reported Out; OTP-AM

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

C-A (S-280)

Adopted by House & Senate

Plain English: Page 1 - 132LR0354(02) COMMITTEE AMENDMENT 1 L.D.

Page 1 - 132LR0354(02) COMMITTEE AMENDMENT 1 L.D.
140 2 Date: (Filing No.
S- ) 3TAXATION 4 Reproduced and distributed under the direction of the Secretary of the Senate.
5STATE OF MAINE 6SENATE 7132ND LEGISLATURE 8FIRST SPECIAL SESSION 9 COMMITTEE AMENDMENT “ ” to S.P.

Bill History

2026-04-29 Senate
Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES . (DEAD)
2025-06-09 House
PASSED TO BE ENACTED . Sent for concurrence. ORDERED SENT FORTHWITH.
2025-06-05 Committee
Reported Out; OTP-AM
2025-04-01 Committee
Work Session Held
2025-04-01 Committee
Voted; OTP-AM
2025-01-14 Committee
Referred to Committee on Taxation.

Official Summary Text

An Act to Incrementally Increase the Homestead Property Tax Exemption
Sponsor:
Senator Joseph Baldacci
Reference committee:
Taxation
Latest committee action:
Reported Out; OTP-AM

Current Bill Text

Read the full stored bill text

Printed on recycled paper
132nd MAINE LEGISLATURE
FIRST REGULAR SESSION-2025
Legislative Document No. 140
S.P. 76 In Senate, January 14, 2025
An Act to Incrementally Increase the Homestead Property Tax
Exemption
Reference to the Committee on Taxation suggested and ordered printed.
DAREK M. GRANT
Secretary of the Senate
Presented by Senator BALDACCI of Penobscot.
Cosponsored by Senators: BAILEY of York, CYRWAY of Kennebec, Representative:
ROEDER of Bangor.

Page 1 - 132LR0354(01)
1Be it enacted by the People of the State of Maine as follows:
2Sec. 1. 36 MRSA §683, sub-§1-B, as amended by PL 2019, c. 343, Pt. H, §2, is
3 repealed and the following enacted in its place:
41-B. Additional exemption; inflation adjustment. A homestead eligible for an
5 exemption under subsection 1 is eligible for an additional exemption as provided in this
6 subsection:
7 A. For property tax years beginning before April 1, 2016, $5,000 of the just value of
8 the homestead;
9 B. For property tax years beginning April 1, 2017, April 1, 2018 and April 1, 2019,
10 $10,000 of the just value of the homestead;
11 C. For property tax years beginning April 1, 2020, April 1, 2021, April 1, 2022, April
12 1, 2023, April 1, 2024 and April 1, 2025, $15,000 of the just value of the homestead;
13 and
14 D. For property tax years beginning on or after April 1, 2026, $10,000 of the just value
15 of the homestead for each property tax year in addition to the amount under paragraph
16 C, until the additional exemption under this subsection is equal to $85,000.
17 Beginning with property tax years beginning April 1, 2033, the State Tax Assessor annually
18 shall multiply the amount of the exemption under this subsection and subsection 1 by the
19 cost-of-living adjustment. For the purposes of this section, "cost-of-living adjustment"
20 means the Chained Consumer Price Index, as defined in section 5402, subsection 1, for the
21 12-month period ending June 30th of the preceding calendar year divided by the Chained
22 Consumer Price Index for the 12-month period ending June 30, 2032.
23SUMMARY
24 This bill, for property tax years beginning on or after April 1, 2026, increases the
25 homestead property tax exemption by $10,000 of the just value of the homestead each
26 property tax year until the total exemption reaches $95,000. In subsequent property tax
27 years, the exemption amount is adjusted annually for inflation.
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