Testimony: Abolishing All Personal Property Taxes
Testimony in Support of LD 1743, “An Act to Eliminate the Personal Property Tax.”
Senator Grohoski, Representative Perry, and the distinguished members of the Committee on Taxation, my name is Nick Murray and I serve as director of policy for Maine Policy Institute. We are a free market think tank, a nonpartisan, non-profit organization that advocates for individual liberty and economic freedom in Maine. Thank you for the opportunity to testify in support of LD 1743.
Why should Mainers have to pay an annual tax on a piece of property, simply because they have owned it for another year?
In even the most generous state rankings on economic health and competitiveness, Maine places in the bottom 10. The cost of doing business here is 9% higher than the national average; the cost of living is 15% higher. Our tax burden is the third-highest in the nation. Taxes and fees are big contributors to these dubious statistics.
We pay the most in property taxes, as a share of personal income, than any other state in the nation. You can be a part of the solution by doing all that you can to reduce the onerous tax burden on Mainers.
Please deem LD 1743 “Ought To Pass” and put an end to the nickel-and-diming of Maine people at a time when their purchasing power is being stretched to its limit. Thank you for your time and consideration.