Maine’s Cities, Towns Seek To Offset Revenue Lost To Coronavirus

When it comes to financial security, conventional wisdom has it that municipal governments should develop sources of revenue on top of what they get from property taxes. Some of Maine’s larger cities have done that well, but that has actually hurt them during the pandemic.Portland City Finance Director Brendan O’Connell said Portland is one of the few places in northern New England that gets more than 50 percent of its revenues from sources other than property taxes. “It’s a blessing and a curse to have as many revenue streams as we do have,” O’Connell said. The curse is that, because of the pandemic, the city is estimating a drop of almost $12 million in non-property tax revenues for the coming fiscal year, many in the hospitality and travel sector.