For more information on any of these programs and an application contact the Assessor's Office at 207.288.3320
TREE GROWTH
The
Maine Tree Growth Tax Law provides for the valuation of land, which has
been classified as commercially harvested forestland on the basis of
productivity value, rather than on fair market value. The State
determines the 100% valuation per acre for each forest type classified
by County. Once classified, any change in use or withdrawal from classification results in a supplemental tax penalty.
FARM and OPEN SPACE
The Farm and Open Space Tax Law provides for the valuation of land
which has been classified as farmland or open space land on its current
use as farmland or open space, rather than its potential fair market
value for use other than agricultural or open space.
Farmland - Land registered for long-term agricultural use.
The Assessor establishes the 100% valuation per acre based on the
current use value of farmland utilized for agricultural or
horticultural purposes and not potential developmental or market value
uses. Once classified, any change in use or withdrawal results in a
supplemental tax penalty.
Open Space -Registered land providing a defined public benefit through preservation
or restrictions on use. The valuation for open space land is either the
market value of open space land adjusted by the certified ratio or an
alternative percentage-based method. The percentage-based method
provides for reduction from market value relative to the restrictions
placed on the property. The greater the restrictions, the greater the
reduction.Once classified, any
change in use or withdrawal results in a supplemental tax penalty.
For more information and an application contact the Assessor's Office.
WORKING WATERFRONT -To encourage the preservation of working waterfront land and to prevent the conversion of working waterfront land to other uses as the result of economic pressures caused by the assessment of that land for purposes of property taxation. Once classified, any change in use or withdrawal results in a supplemental tax penalty.
Click Here to download an FAQ about the Working Waterfront Program
Click Here to download an application form