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Friday, November 15, 2024

Maine's Q4 2023 property tax revenue down 94.3% 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 $2 million in property taxes during the fourth quarter of 2023, a 94.3% decrease from the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the third quarter of 2023 was $35 million.

Overall, Maine collected $1.6 billion in combined tax revenues in the fourth quarter of 2023, 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 2023 Maine Tax Collections
Type of TaxAmount (millions)
Property Taxes$2
Sales and Gross Receipts Taxes$809
Income Taxes$710
License Taxes$76
Other Taxes$15
Source: U.S. Census Bureau

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