An Act To Invest In Maine'S Families And Workforce By Amending The Real Estate Transfer Tax

LD 1082 amends Maine's real estate transfer tax, increasing the rate for properties valued at $1 million or more to $5.00 per $500 of value (from $2.20 for properties under $1 million). It redirects 50% of the tax revenue to housing funds, requiring 25% of those funds to support new affordable housing units for low-income households. The remaining revenue is split between the General Fund and the Housing First Fund. This bill directly affects sellers of high-value properties while funding housing initiatives through tax revenue.