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Maine 2019 Revenue Lost to Tax Abatement Programs

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State-level programs

Click on the name of a program for more details.

Program Name	Program Type	Revenue Loss
New Markets Capital Investment Tax Credit	Capital investment	$15,543,152
Employment Tax Increment Financing	Job retention	$12,695,785
Pine Tree Development Zone Tax Credit	Job creation; capital investment	$3,349,953
TABULATED STATE-LEVEL TOTAL		$31,588,890

Tabulated localities and districts

Click on the name of jurisdiction for a list of tax abatement programs that reduced its tax revenue.

We estimated the reporting rate among local governments for each state using 2018 and 2019 data. This is to gauge how much data is available in that state.

For Maine, the estimated reporting rate is as follows:

Cities/counties: 20 out of 37 CAFRs or financial statements we examined provided information on tax abatement programs in accordance with GASB Statement No.77.

School districts: 0 out of 57 CAFRs or financial statements we examined provided information on tax abatement programs in accordance with GASB Statement No.77.

Concerned about the lack of disclosure? Check out the roadmap on GASB 77 compliance we created for ME. You can also get a CSV file of the localities in ME that did not make any tax abatement disclosures in their annual financial reports.

Why is there little or no reporting from school districts?: Maine is a New England state: Local school districts do not produce financial audits (only the few regionalized ones do).

The state does not post local financial audits in an online repository.

Reporting Jurisdiction	Jurisdiction Type	Gross Revenue Loss
Auburn	Municipality	$1,237,100
Bangor	Municipality	$354,583
Lewiston	Municipality	$1,046,326
Portland	Municipality	$1,179,485
South Portland	Municipality	$1,783,491
TABULATED LOCALITY AND DISTRICT TOTAL		$5,600,985