Information On Property Tax Bills Form 2007 Page 2
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1
2EXAMPLE
Homestead Reimb.
(1)
75,000
Homestead Reimb.
(1) ________
Revenue Sharing
(2)
100,000
Revenue Sharing
(2) ________
Education Subsidy
(3)
200,000
Education Subsidy
(3) ________
(1) + (2) + (3) =
(4)
375,000
(1) + (2) + (3) =
(4) ________
Tax Commitment
(5)
750,000
Tax Commitment
(5) ________
(4) + (5) =
(6) 1,125,000
(4) + (5) =
(6) ________
(4) ÷ (6) =
0. 3333
(4) ÷ (6) =
0. ______
Convert decimal to percentage
Convert decimal to percentage
x 100 =
33.3%
x 100 =
%
This is the reduction
Otherwise, some municipalities have chosen another way to satisfy the intent of
the law which is by using the following statement:
Without State Aid for Education, Homestead Exemption
Reimbursement and State Revenue Sharing, your tax bill would
have been ______% higher.
Using this method and information in the example illustrated above, the
percentage is calculated by dividing line (4) by line (5) and multiplying that result
by 100. In the example, the answer is 50.0%.
The decision of which statement to use is at the discretion of each individual
municipality.
Each bill issued must clearly state the date interest will begin to accrue on
delinquent taxes. Please note that the maximum rate that may be charged for
2007 tax assessments is 12.00% simple interest.
For current estimates on Revenue Sharing you may call Treasury at 624-7477 or
for Education Subsidy the phone number would be 624-6790. For all other
information please write or call:
Property Tax Division
PO Box 9106
Augusta, ME 04332-9106
Tel. (207) 287-2013
Rev. 04/07
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