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Saturday, November 23, 2024

Maine's Q4 2022 property tax revenue down 97.1% from previous quarter

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Kirsten Figueroa Commissioner of Revenue at Maine Revenue Services | Maine Revenue Service

Kirsten Figueroa Commissioner of Revenue at Maine Revenue Services | Maine Revenue Service

Maine collected $1 million in property taxes during the fourth quarter of 2022, a 97.1% decrease from the third quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the third quarter of 2022 was $35 million.

Overall, Maine collected $1.5 billion in combined tax revenues in the the fourth quarter of 2022, a decrease from the $1.7 billion collected in the previous 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.

Q4 2022 Maine Tax Collections
Type of TaxAmount (millions)
Property Taxes$1
Sales and Gross Receipts Taxes$786
Income Taxes$661
License Taxes$70
Other Taxes$22
Source: U.S. Census Bureau

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