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Thursday, November 21, 2024

Higher property tax revenue in Maine during Q2

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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 second quarter, a 100% increase over the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $1 million.

Overall, Maine collected $2 billion in combined tax revenues in the second quarter, an increase from the $1.2 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.

Q2 Maine Tax Collections
Type of TaxAmount (millions)
Property Taxes$2
Sales and Gross Receipts Taxes$841
Income Taxes$982
License Taxes$96
Other Taxes$31
Source: U.S. Census Bureau

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