AUGUSTA, Maine (AP) — Every car and truck owner in Maine would be affected by proposed legislation that would revise the state’s excise tax formula for vehicles.
Supporters say Maine’s excise taxes are too high and vehicle owners need a break. Opponents say cuts in excise taxes would hurt municipalities and shift the tax burden onto property owners.
Taxation committee co-chairman Rep. Gary Knight says the aim is to have new car buyers pay an excise tax based on the purchase price. The current formula bases the tax on the manufacturers’ suggested retail price, which is typically higher than the actual sales price. The committee is holding a workshop session Thursday to discuss several bills that have been proposed.
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