Maine Revised Statutes Title 13 Sec. 1762 – Property tax provisions
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1. Property not tax-exempt. Notwithstanding any provision of law to the contrary, cooperative property does not qualify for property tax exemption under Title 36, section 652, subsection 1, paragraph A.
[PL 1993, c. 300, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 13 Sec. 1762
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Cooperative affordable housing corporation: means a domestic corporation that is organized under or elects to be governed by the provisions of this subchapter. See Maine Revised Statutes Title 13 Sec. 1742
- Cooperative property: means the real and personal property, including mobile and manufactured homes, in this State owned or leased by a cooperative affordable housing corporation for the primary purpose of residential use. See Maine Revised Statutes Title 13 Sec. 1742
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Member: means a person who owns a cooperative interest. See Maine Revised Statutes Title 13 Sec. 1742
2. Eligibility for property tax relief. Without limiting the eligibility of members of any other corporation or unincorporated association that provides housing on a cooperative basis for tax relief, a member of a cooperative affordable housing corporation is eligible for any relief afforded to property taxpayers under law.
[PL 1993, c. 300, §1 (NEW).]
3. Homestead exemption from attachment and execution. Title 14, section 4422 applies to cooperative interests in cooperative affordable housing corporations.
[PL 1993, c. 300, §1 (NEW).]
SECTION HISTORY
PL 1993, c. 300, §1 (NEW).