Maine Tree Growth Tax Law
Maine Tree Growth Tax Law is the premier conservation program in Maine. The program promotes conservation values, offers substantial saving on property taxes, and supports the working landscape. Maine foresters can help landowners benefit from this successful conservation program.
Tree Growth Program is a win-win-win program that the state offers to landowners in Maine. It allows landowners to save on property taxes, helps conserve forest and farm land, and supports the working landscape. These multiple goals embodied in Tree Growth are what make it such a successful land conservation program in Maine.
The main idea of Current Use is to tax land at the value for which it is being used. Instead of property being taxed at its “highest and best use” price, which is essentially its maximum value as a development, it gets taxed at a rate more compatible with income derived from forestry and/or farming. The result is that landowners have less pressure to build because of elevated property taxes.
A second major goal is to allow woodlands to continue to provide ecological, environmental and cultural benefits important to Maine. This includes wetland protection, wildlife habitat, nutrient cycling erosion control and the like. Also, a well forested landscape provides important recreation opportunities such as hiking, hunting, fishing, skiing, snowmobiling, birding, and general peace and solitude.
Third, thid program is meant to support the working landscape. By providing local sourced raw materials for lumber, pulp and wood heat, a well-managed forest provides income to landowners while creating jobs for loggers, mills, land managers and others.
In short, by enrolling in Maine Tree Growth Program landowners agree not to develop their land, and to manage it for forest or farm products. In doing so, their property taxes will be reduced, and in most cases reduced dramatically.
Tree Growth Program is a win-win-win program that the state offers to landowners in Maine. It allows landowners to save on property taxes, helps conserve forest and farm land, and supports the working landscape. These multiple goals embodied in Tree Growth are what make it such a successful land conservation program in Maine.
The main idea of Current Use is to tax land at the value for which it is being used. Instead of property being taxed at its “highest and best use” price, which is essentially its maximum value as a development, it gets taxed at a rate more compatible with income derived from forestry and/or farming. The result is that landowners have less pressure to build because of elevated property taxes.
A second major goal is to allow woodlands to continue to provide ecological, environmental and cultural benefits important to Maine. This includes wetland protection, wildlife habitat, nutrient cycling erosion control and the like. Also, a well forested landscape provides important recreation opportunities such as hiking, hunting, fishing, skiing, snowmobiling, birding, and general peace and solitude.
Third, thid program is meant to support the working landscape. By providing local sourced raw materials for lumber, pulp and wood heat, a well-managed forest provides income to landowners while creating jobs for loggers, mills, land managers and others.
In short, by enrolling in Maine Tree Growth Program landowners agree not to develop their land, and to manage it for forest or farm products. In doing so, their property taxes will be reduced, and in most cases reduced dramatically.