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LD658 • 2025

An Act to Lower Property Taxes by Increasing the Homestead Property Tax Exemption

An Act to Lower Property Taxes by Increasing the Homestead Property Tax Exemption

Taxes
Active

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

Sponsor
Representative Billy Bob Faulkingham
Last action
2025-04-08
Official status
Pursuant to Joint Rule 310.3 Placed in 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 Lower Property Taxes by Increasing the Homestead Property Tax Exemption

An Act to Lower Property Taxes by Increasing the Homestead Property Tax Exemption Sponsor: Representative Billy Bob Faulkingham Reference committee: Taxation Latest committee action: Reported Out; ONTP

What This Bill Does

  • An Act to Lower Property Taxes by Increasing the Homestead Property Tax Exemption Sponsor: Representative Billy Bob Faulkingham Reference committee: Taxation Latest committee action: Reported Out; ONTP

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.

Bill History

  1. 2025-04-08 Senate

    Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)

  2. 2025-04-02 Committee

    Reported Out; ONTP

  3. 2025-04-01 Committee

    Work Session Held

  4. 2025-04-01 Committee

    Voted; ONTP

  5. 2025-03-21 House

    Carried over, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.

  6. 2025-02-20 Committee

    Referred to Committee on Taxation.

Official Summary Text

An Act to Lower Property Taxes by Increasing the Homestead Property Tax Exemption
Sponsor:
Representative Billy Bob Faulkingham
Reference committee:
Taxation
Latest committee action:
Reported Out; ONTP

Current Bill Text

Read the full stored bill text 
Printed on recycled paper
132nd MAINE LEGISLATURE
FIRST REGULAR SESSION-2025
Legislative Document No. 658
H.P. 426 House of Representatives, February 25, 2025
An Act to Lower Property Taxes by Increasing the Homestead
Property Tax Exemption
Received by the Clerk of the House on February 20, 2025. Referred to the Committee on
Taxation pursuant to Joint Rule 308.2 and ordered printed pursuant to Joint Rule 401.
ROBERT B. HUNT
Clerk
Presented by Representative FAULKINGHAM of Winter Harbor.
Cosponsored by Senator BICKFORD of Androscoggin and
Representatives: BAGSHAW of Windham, EDER of Waterboro, GREENWOOD of Wales,
GRIFFIN of Levant, LYMAN of Livermore Falls, PARRY of Arundel, RUDNICKI of
Fairfield, SMITH of Palermo.

Page 1 - 132LR0758(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 further amended to read:
41-B. Additional exemption. A homestead eligible for an exemption under subsection
5 1 is eligible for an additional exemption of $5,000 of the just value of the homestead for
6 property tax years beginning on April 1, 2016, $10,000 of the just value of the homestead
7 for property tax years beginning on April 1, 2017, April 1, 2018 and April 1, 2019, and
8 $15,000 of the just value of the homestead for property tax years beginning on or after
9 April 1, 2020, April 1, 2021, April 1, 2022, April 1, 2023 and April 1, 2024 and $40,000
10 of the just value of the homestead for property tax years beginning on or after April 1, 2025.
11SUMMARY
12 This bill increases the property tax exemption for a homestead from $25,000 to $50,000
13 of the just value of the homestead for property tax years beginning on or after April 1, 2025.
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