Maine revenues nearly meet budget

AUGUSTA — Maine tax officials say revenues were close to budget as the first month of fiscal 2011 ended.

Revenues overall for July were $1.2 million, or less than 1 percent, under budget. But Michael Allen of Maine Revenue Services told the Legislature’s Appropriations Committee today that the all-important sales tax revenues were over budget by $1.7 million, marking the fourth consecutive month sales and use taxes were over budget.

Helping to push sales tax revenues over budget were automobile sales and tourism-related spending.

Allen told the committee that highway revenues were also over budget in July.

Maine ended fiscal 2010 on June 30 with a surplus of $70 million. Allen said most of that was due to a surge in consumer spending in late winter and early spring.

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