An Act to Provide Property Tax Stabilization for Older Maine Residents

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Plain-English Summary

This bill allows towns to create a program that keeps property taxes stable for older residents who own homes. To qualify, residents must be at least 62, live in Maine permanently, and have owned a home in the state for at least 10 years. Towns can also choose to add a 1% sales tax on prepared food and lodging, and this money must be used to cover the costs of the senior property tax stabilization program.

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