An Act To Make Changes To The Farm And Open Space Tax Law

This bill proposes changes to Maine's Farm and Open Space Tax Law to adjust how open space land is valued and taxed. It establishes a new method for calculating the base value of open space land by doubling the highest forest valuation in each county and allows landowners to receive additional tax reductions for specific conservation actions. Owners can qualify for up to 50% total reductions by agreeing to allow public access, permanently protecting land from development, or completing certified wildlife and climate-friendly practices. The legislation also creates a reimbursement system that distributes funds to municipalities based on the amount of tax revenue lost due to these valuation reductions.