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Tax increment financing in the state of Maine allows a town or city to define, after applying to the state, a certain region or business within its borders as a TIF district. The local tax revenues generated by that district are, one, dedicated to a specific project or economic development fund, and two, are not counted towards the municipality ...
According to the 2020 United States census, Maine is the 9th least populous state, with 1,372,247 inhabitants, and the 12th smallest by land area, spanning 30,842.92 square miles (79,882.8 km 2). [1] Maine is divided into 16 counties and contains 482 municipalities consisting of cities, towns, and plantations. [ 2 ]
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The property tax typically produces the required revenue for municipalities' tax levies. One disadvantage to the taxpayer is that the tax liability is fixed, while the taxpayer's income is not. The tax is administered at the local government level. Many states impose limits on how local jurisdictions may tax property.
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Municipal funding sources are commonly property tax, sales tax, income tax, utility users tax (UUT), transient occupancy tax (hotel occupancy), and user fees such as licensing and permit fees. Many Treasurers are elected, and are therefore directly accountable to their constituents; the remainder are appointed either by City Council or City ...
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