Portland may ask tax-exempt property owners for voluntary revenue help [Video]

Portland’s finance committee began discussions Thursday evening about a potential program that would give tax-exempt property owners an opportunity to contribute to Portland’s general fund.

Brendan O’Connell, the city’s finance director, briefed committee members on what the Payment-in-Lieu of Taxes program could look like if implemented in Portland. Similar programs exist in Boston, Providence, Rhode Island, New Haven, Connecticut, Baltimore and Pittsburgh.

O’Connell said the city has about $3 billion worth of tax-exempt property. Maine Medical Center, Portland Water District and the University of Maine were among the highest value property holders.

If the city implements the policy, owners of exempt property could voluntarily agree to pay about 25% of what their tax bill would be if taxable.

“That’s in recognition of the fact that the community receives so many benefits from these organizations,” said O’Connell. “I think nearly every exempt institution in the city could go on about the benefits they provide …