Maine Municipal Tax Collectors' & Treasurers' Association
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Maximum Interest Rate on Unpaid Taxes (2008)

Municipalities may, by vote, determine the rate of interest that shall apply to taxes that become delinquent during the taxable year 2008 until those taxes are paid in full. The maximum rate of interest that can be charged per (Title 36 MRSA § 505.4) is 11.00%.

The interest rate for taxes overpaid and returned may be no less than 7.00% if the 11% rate is chosen, or no less than 4% less than the chosen rate. (MRSA 36 § 506-A)

Consult your town meeting warrant for the precise wording of your tax interest rates.