Maine Tax Guide
7.15%top marginal rate
Maine has a progressive income tax with a top rate of 7.15%. Property taxes are above the national average, and the state levies an estate tax. However, Maine offers a homestead property tax exemption and a property tax fairness credit for lower-income residents.
Maine Tax at a Glance
Income Tax
7.15%
Top marginal rate
Sales Tax
5.5%
State-level rate
Property Tax
1.36%
24% above the national average
Estate Tax
Yes
State-level estate/inheritance tax
How Maine Compares to the National Average
Notable Tax Facts
- Top income tax rate of 7.15% is among the higher rates nationally
- Has a state estate tax with a $6.8 million exemption
- Property taxes are above the national average at ~1.36%
- Offers a property tax fairness credit for lower-income residents
Get Glen’s Updates
Investing insights, new tools, and whatever I’m building this week. Free. No spam.
Unsubscribe anytime. I respect your inbox more than Congress respects property rights.
Maine Tax FAQ
What is Maine's income tax rate?
Maine has a progressive income tax with three brackets: 5.8%, 6.75%, and 7.15%. The top rate applies to income over $58,050 for single filers.
Does Maine have an estate tax?
Yes. Maine has an estate tax with an exemption of about $6.8 million. The tax rate ranges from 8% to 12% on the portion exceeding the exemption.
Are Maine property taxes high?
Maine's effective property tax rate of about 1.36% is above the national average. However, homestead exemptions and the property tax fairness credit help reduce the burden.
Does Maine tax Social Security?
Maine does not tax Social Security benefits. The state follows the federal treatment.
Compare With Other States
Recommended Resources
Tools & books I actually use and recommend
Interactive Brokers
Low commissions, global market access, and professional-grade tools. This is where I hold my positions.
Open an AccountThe Psychology of Money
Morgan Housel on why managing money is about behavior, not intelligence. Short, brilliant chapters you'll re-read.
View on AmazonA Random Walk Down Wall Street
Burton Malkiel's classic case for index investing. The book that convinced millions to stop stock-picking.
View on AmazonSome links above are affiliate links. I only recommend products I personally use. See my full disclosures.
Keep Exploring
Educational content, not tax advice. Tax rates are approximate and subject to change. Consult a qualified CPA or tax professional for advice specific to your situation. Data reflects widely-known public information as of early 2026.