Overview of Maine

State Funds Budget Data

• Estimated 2023 State Funds Budget ($ Billions): $7.84
• Budget Limit ($ Billions): $8.26
• Budget Limit Growth ($ Billions): 5.43%
• Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $1,054.63
• Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $4,219
• Cumulative cost per person of budgeting more than pop+inf over the last decade: $2,985.67
• Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $11,942.70

State All Funds Budget Data

• Estimated 2023 All Funds Budget ($ Billions): $13.20
• Budget Limit ($ Billions): $13.91
• Budget Limit Growth ($ Billions): 5.43%
• Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $700.20
• Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $2,800.80
• Cumulative cost per person of budgeting more than pop+inf over the last decade: $1,943.76
• Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $7,775.04

Other Considerations

• Economic Freedom (2020) (Rank): 45 [Fraser Institute]
• State Tax Collections Per Capita (FY2021) ($): $3,973 [Tax Foundation]
• State Tax Collections Per Capita (FY2021) (Rank): 15 [Tax Foundation]
• State-Local Total Tax Burden per Capita (2022) ($): $6,906 [Tax Foundation]
• State-Local Tax Burden per Capita (2022) (%): 12.40% [Tax Foundation]
• State-Local Tax Burden per Capita (2022) (Rank): 41 [Tax Foundation]
• Top Income Tax Rate (2023) (%): 7.15% [Tax Foundation]
• Top Income Tax Rate (2023) (Rank): 41 [Tax Foundation]
• Flat or Progressive Income Tax (2023) (Flat/Progressive/Zero): P [Tax Foundation]
• Overall State Business Tax Climate Index (2023)(Rank): 35 [Tax Foundation]
• Corporate Income Top Tax Rate (2023) (%): 8.96% [Tax Foundation]
• Corporate Income Top Tax Rate (2023) (Rank): 6 [Tax Foundation]
• State-Local Sales Tax Rate (2023) (%): 5.50% [Tax Foundation]
• State-Local Sales Tax Rate (2023) (Rank): 42 [Tax Foundation]
• Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 1.24% [Tax Foundation]
• Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 16 [Tax Foundation]
• Tax and Expenditure Limit (0-3): 1 [American Legislative Exchange Council]
• Tax and Expenditure Limit (Rank): 15 [American Legislative Exchange Council]
• Right-to-Work Law (2022) (Y/N): N [American Legislative Exchange Council]
• State-Local Spending per Capita (2022) ($): $12,079 [US Government Spending]
• State-Local Spending per Capita (2022) (Rank): 18 [US Government Spending]
• Official Poverty Rate (2020-22) (%): 8.9 [Census Bureau]
• Official Poverty Rate (2020-22) (Rank): 16 [Census Bureau]
• Supplemental Poverty Rate (2020-22) (%): 4.6 [Census Bureau]
• Supplemental Poverty Rate (2020-22) (Rank): 1 [Census Bureau]
• Labor Force Participation Rate (Dec. 2022) (%): 58.00% [Bureau of Labor Statistics]
• Labor Force Participation Rate (Dec. 2022) (Rank): 43 [Bureau of Labor Statistics]