Delinquent Maine property taxpayers just got a gift from the newly elected Democrat state treasurer.
But guess who has to pick up the slack…
Joe Perry of Bangor, who last month was a successful dark-horse candidate for the state money manager’s job, decided his first big act would be lowering the interest rate charged on late property taxes a full point, to 7.5 percent, from the previous 8.5 percent.
That effectively means a tax increase for property owners who pay their taxes when they’re due.
Municipalities rely largely on the property tax to finance taxpayer services. So when one taxpayer fails to meet the payment deadline his neighbor has to pick up the slack.
The new maximum rate that Maine towns and cities can charge for late taxes is now more than two points lower than the average construction loan in the state.
Maine construction loans generally average between 9.75 percent and 11.5 percent.
Of the three major taxes – income, sales and property – used to fund Maine state and local governments, property taxes comprise the largest slice of the revenue pie, according to the Maine Municipal Association.
Property taxes currently account for roughly 45% of the revenues in Maine generated by the three largest taxes.
Under state law, communities can charge as little as they want for overdue taxes but they are forbidden from levying more than the state-mandated maximum set by the treasurer.
Perry’s first major act after winning an upset bid last month for the state’s biggest money job was dropping the cost for financially-delinquent property owners.
Outgoing state Treasurer Henry Beck, who had decided against seeking another term, had actually wanted Maine House Majority Leader Maureen Terry (D-Gorham) to be his successor.
But Perry came up the inside lane and convinced his fellow legislative colleagues to give him the job after he suggested he also had Republican support.
State constitutional officers are elected by the Legislature.
[RELATED: https://www.themainewire.com/2025/01/these-constitutional-amendments-would-give-mainers-the-right-to-vote-for-secretary-of-state-and-attorney-general/]
Perry was just re-elected to the Maine House in November
But less than a month later he decided he’d rather be state treasurer.
That late decision has forced Bangor taxpayers to finance a special election soon to fill his now-vacant legislative seat.
<span class="dsq-postid" data-dsqidentifier="34753 https://www.themainewire.com/?p=34753">7 Comments
I’m sure the Democrat run cities can figure it out. Maybe extra “fees” for late payments instead of a % hike. They’re good at squeezing money out of us.
We pay our taxes (very high taxes in S.P.) on time.
Why are Democrats so intent on punishing success and rewarding failure?
Do you trust anyone who dresses like the “Two Wild and Crazy Guys” from SNL?
Republican Carolyn Fish is running in the Special Election for House District 24(Bangor, Brewer, Orono, Veazie). The election is February 25th.
Maybe instead of fiddling with the interest rate they should work on lowering the property taxes then perhaps there wont be so many delinquencies. Too much common sense for a democrat to understand.
Another dancing democrat clown from the circus tent which is our state house .
We need to get rid of these f**king democrats .
We need common sense , simple speaking , conservative minded , financially responsible Republicans
to take control . The Democrats are NONE of these things .
Let’s just call Joe Perry ———Bozo
Gobankrates.com lists maine as having the 5th highest living wage requirement for a family of four in the US. Hawaii, Alaska, NY and Mass were the highest. Be sure to thank janet and her stooges running this state during the next election.
Rich imports from Southern New England and beyond, wagon riders from all over Maine, terribly uninformed citizens from every town, union followers, government employees…that is a very difficult coalition of voters to overcome. I don’t see Maine changing trajectory for a very long time, if ever, The “Joe Perry’s” flourish on the above special interest groups. Good luck with your battle.