Chamber testifies in support of bill to require Maine Revenue to value certain property related to energy projects
On Tuesday, January 21, the Maine State Chamber of Commerce will be testifying in strong support of LD 1898, An Act Regarding Property Taxes on Certain Energy Generation Projects. Sponsored by Sen. Heather Sanborn (D-Cumberland), the bill would require Maine Revenue Services (MRS) to value property of an energy generation project that is located partially in the unorganized territory and partially in organized territory, and to allocate the value to the organized territory appropriately.
The concept of requiring MRS to value large industrial property is something the Maine State Chamber has always supported. Valuing large industrial property such as that associated with energy projects is very complicated. MRS has the expertise to value these properties appropriately and fairly across the board, avoiding wide variations or discrepancies of value for the same property from municipality to municipality.
Rep. Steve Stanley (D-Medway) had a similar bill in last session, which the Maine State Chamber supported. His bill would have required, among other things, that MRS determine the value of large industrial property over $10 million. In addition, this bill also allowed a municipality to pursue the same fair course of action afforded a taxpayer when appealing a value, that is to take their case before the State Board of Appeals.
If you have any questions, please contact Linda Caprara by calling (207) 623-4568, ext. 106, or by emailing email@example.com.