(WABI) – Governor John Baldacci says the constitutional amendment he’s proposing to freeze the valuation of Maine primary residences is modeled after other tax breaks the state has allowed.
Baldacci, who held a news briefing today, also said other states are considering variations of what’s being proposed in Maine.
The proposal advanced by Baldacci seeks to freeze the land of primary residences of permanent Maine residents until the property is sold. At the point of sale, the town could recapture five years of back taxes that would have been paid if the valuation had not been frozen.
Baldacci says the proposal is modeled after an existing provision in the Maine Constitution that gives valuation breaks to woodlands, farmlands, wildlife management lands, open space and working waterfront land.
Now, the governor says it’s time enact a property tax relief policy that protect homeowners who’ve been hit by a tax shift in the past.
He says other states, such as California, Massachusetts and Florida, have considered similar approaches.