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Thursday, November 14, 2024

Property tax revenue up 700% from previous quarter in Maine

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

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

Maine collected $8 million in property taxes during the first quarter of 2023, a 700% increase over the fourth quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2022 was $1 million.

Overall, Maine collected $1.3 billion in combined tax revenues in the the first quarter of 2023, a decrease from the $1.5 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.

Q1 2023 Maine Tax Collections
Type of TaxAmount (millions)
Property Taxes$8
Sales and Gross Receipts Taxes$651
Income Taxes$540
License Taxes$92
Other Taxes$12
Source: U.S. Census Bureau

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