Maine Revised Statutes Title 36 Sec. 505 – Taxes; payment; powers of municipalities
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At any meeting at which it votes to raise a tax, or at any subsequent meeting prior to the commitment of that tax, a municipality may, with respect to the tax, by vote determine: [PL 1995, c. 57, §4 (AMD).]
1. When lists committed. The date when the lists named in section 709 shall be committed.
Terms Used In Maine Revised Statutes Title 36 Sec. 505
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Municipality: shall include cities, towns and plantations. See Maine Revised Statutes Title 36 Sec. 501
- Property: shall be construed to mean both real estate and personal property. See Maine Revised Statutes Title 36 Sec. 501
- Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
2. When property taxes due and payable. The date or dates when property taxes shall become due and payable.
[PL 1973, c. 708 (AMD).]
3. When poll tax due and payable.
[PL 1973, c. 66, §4 (RP).]
4. When interest collected. The date or dates from and after which interest must accrue, which must also be the date or dates on which taxes become delinquent. The rate of interest must be specified in the vote and must apply to delinquent taxes committed during the taxable year until those taxes are paid in full. Except as provided in subsection 4?A, the maximum rate of interest must be established by the Treasurer of State and may not exceed the prime rate as published in the Wall Street Journal on the first business day of the calendar year, rounded up to the next whole percent plus 3 percentage points. The Treasurer of State shall post that rate of interest on the Treasurer of State’s publicly accessible website on or before January 20th of each year. The interest must be added to and become part of the taxes.
[PL 2011, c. 380, Pt. FFF, §1 (AMD).]
4-A. Alternate calculation of interest. For any tax year for which the maximum interest rate established by the Treasurer of State under subsection 4 is 2 percentage points or more lower than the maximum rate established by the Treasurer of State for the previous tax year, the municipality may adopt an interest rate that is up to 2 percentage points over the rate established by the Treasurer of State for the tax year under subsection 4.
[PL 2001, c. 635, §2 (NEW).]
5. Abatement when taxes paid prior to time. That all taxpayers who pay their taxes prior to specified times shall be entitled to abatement thereon, which abatement shall not exceed 10%, and shall be specified in the vote. A notification of such vote shall be posted by the treasurer in one or more public places in the municipality within 7 days after the commitment of the taxes.
SECTION HISTORY
PL 1971, c. 367 (AMD). PL 1973, c. 66, §4 (AMD). PL 1973, c. 708 (AMD). PL 1979, c. 541, §A218 (AMD). PL 1983, c. 480, §A40 (AMD). PL 1995, c. 57, §4 (AMD). PL 2001, c. 635, §§1,2 (AMD). PL 2005, c. 332, §12 (AMD). PL 2011, c. 380, Pt. FFF, §1 (AMD).