Lowe's seeking tax abatements for six Maine locations
Maine could soon be joining New Jersey and Indiana as states that have granted Lowe’s property tax abatements after the North Carolina-based home improvement chain applied for the tax abatement for six of their Maine locations.
The tax abatement Lowe’s is seeking would have the communities that the stores are located in reassess their values by millions of dollars in an attempt to cut taxes paid for the retail locations, according to The Bangor Daily News.
The following Lowe’s locations are seeking tax abatements:
Thomaston: Requesting an abatement of nearly $6.9 million for the assessed value of $15.3 million. This would result in a tax cut of $124,000.
Bangor: Requesting an abatement of $4.5 million for the assessed value of $12.3 million. This would result in a tax cut of $99,000.
Brewer: Requesting an abatement of $3.5 million for the assessed value of $12.5 million. This would result in a tax cut of $76,000.
Auburn: Requesting an abatement of $3.8 million for the assessed value of $12.5 million. This would result in a tax cut of $82,000.
Augusta: Requesting an abatement of $5.3 million for the assessed value of $14.4 million. This would result in a tax cut around $100,000.
Scarborough: Requesting an abatement of $3.8 million for the assessed value of $12.9 million. This would result in a tax cut of $59,000.
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