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Maine real estate legislature update

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Today the house voted 87 to 49 in favor of passing the controversial tax package. Here is a another good article, and it seems the verdict is still very mixed over what the ultimate outcome of this bill will be, beneficial, extremly harmful to Maine real estate or simply a shifting of the burden from one group of taxpayers to another.  The sales tax will remain at 5%, the income tax rate will become a flat 6% across the board, real estate transfer taxes will increase but the homestead exemption credit will be increased as well.

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