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State Revenue Sharing figure estimates are usually issued annually after July 1st. For more information, contact the State Treasury Department at 624-7477.
Spreadsheets of estimates and monthly distributions of Municipal Revenue Sharing are linked from MMA's Tax Data & Resources page.
What can municipalities expect to receive? An estimate of state revenue from income & sales tax is projected and each municipality gets a percentage based upon the above formulas. Amounts received vary each month based upon revenue, and the total amount is only an estimate and can be revised.
The amount of revenue per community is figured using the following formula:
First Step: municipality's population* x municipality's tax commitment / municipality's state valuation = individual municipality's figure
* Population figures used are current estimates from the Maine Department of Human Services.
Example: 23,140 x $27,042,834 = 625,771,178,760
625,771,178,760 / $1,001,100,000 = 625.08358681450 (individual municipality's figure)
Second Step: All individual municipalities' figures reached in the First Step are totaled. The percentage of the individual municipality's figure to the total is reached through the following formula:
individual municipality's figure / all individual municipalities' figures totaled = the percentage of the individual municipality's figure to the total
Third
Step: 5.1% of all state
income
and sales tax revenues
is dedicated
to state revenue sharing
(approximately
$70 - $80 million annually).
The percentage reached
in the Second Step is
the respective
municipality's percentage
of each monthly distribution
of revenue sharing.