STATE HOUSE– Rep. Austin Theriault (R-Fort Kent) announced today that his bill to give property tax relief to Mainers, especially homeowners that are most impacted by rising prices, will have a Public Hearing Wednesday. LD 1202 – “An Act to Increase the Homestead Exemption to $50,000,” increases the property tax exemption for homesteads from $25,000 to $50,000 for property tax years beginning on or after April 1, 2024. The bill also adds provisions increasing the rate of state reimbursement to municipalities for any lost revenue.
“Rising prices are crushing retirees and those living on a fixed income,” said Rep. Theriault. “My bill will provide property tax relief to all homeowners, especially low and middle income citizens trying to survive.”
What: Public Hearing on LD 1202 – “ An Act to Increase the Homestead Exemption to $50,000”
Where: Committee on Taxation, State House Room 127
When: Wednesday, April 5, 2023 at 1:00 PM