An Act To Increase Revenue Sharing And To Control Property Taxes

LD 1798 increases state revenue sharing for Maine municipalities that cap annual property tax increases for qualifying seniors. Municipalities adopting programs limiting property tax hikes to 2% annually for residents aged 65+ who qualify for the homestead exemption receive an additional 20% of their base revenue share. The bill requires municipalities to implement such programs to qualify for the extra funds, directly affecting local budgets and senior homeowners. This policy change aims to support senior residents by controlling their tax burden while providing targeted financial support to participating towns.