Inflation and a runaway hot real estate market have led to a spike in property taxes across Maine — an issue that came into focus last year when lawmakers repealed a new program that froze property taxes for older adults because it was financially unsustainable.
taxes
Posted inEditorials, Opinion
Our View: Raise the cigarette tax in Maine
All available evidence should make it hard to oppose this tax with a straight face. Where there’s smoke …
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Posted inBusiness, Local & State, News
Recreational cannabis brought in millions last year. Maine towns could finally get a cut.
The Legislature is considering 2 bills that would implement revenue sharing across the state’s recreational cannabis industry.
Posted inLocal & State, Morning Sentinel, News
Waterville tax lien goes undiscovered for 62 years
“I don’t think I’ve ever seen one quite this old,” said the lawyer representing the estate of Edward E. Spaulding Sr., who officials say paid his taxes every year for decades.
Posted inCommunity News, Local & State, Local Government, News
Franklin County taxes could help pay for flood mitigation costs
Franklin County Emergency Management Agency informed the New Vineyard Select Board that county taxes will be raised to pay for river gages that will help study flood patterns on Sandy River and Carrabassett River.
Posted inBusiness, Local & State, News
Dairy task force recommends boosting subsidy to preserve Maine farms
A draft report calls for additional taxes on gambling, cannabis or cigarettes to help stabilize funding for the subsidy program that protects Maine’s struggling dairy farms.
Posted inBusiness, Nation & World, News
Taxpayers will get higher standard deductions in 2025, IRS announces
It’s rising to $15,000, up $400 from this year.
Posted inLocal Government, News
Farmington tax rate increases $1.54 per $1,000 in property valuation
The new rate is up $1.54 over last year’s rate of $19.91, with taxes due Nov 26.
Posted inBusiness, Nation & World
Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers
The IRS credits spending that has ramped up collection enforcement through President Biden’s signature climate, health care and tax package signed into law in 2022.
Posted inBusiness, Local & State, News
Wicked good: How ‘sin taxes’ are contributing to Maine’s healthy budget outlook
Revenue from levies on alcohol, tobacco, marijuana and gambling have risen sharply in the last five years, and now account for $353 million a year – 7% of the state’s $5.1 billion annual budget.