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Sunday, December 22, 2024

Maine's Q1 property tax revenue up 250 percent from previous quarter

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Maine collected $7 million in property taxes during the first quarter of 2021, a 250 percent increase over the fourth quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Fourth-quarter property tax revenue was $2 million.

Overall, Maine collected $1.1 billion in combined tax revenues in the first quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1 Maine Tax Collections
Type of TaxAmount
Property Taxes$7,000,000
Sales and Gross Receipts Taxes$545,000,000
Income Taxes$440,000,000
Source: U.S. Census Bureau

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