Edgar Filing: EATON VANCE MICHIGAN MUNICIPAL INCOME TRUST

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number			811-09157

Eaton Vance Michigan Municipal Income Trust
(Exact name of registrant as specified in charter)

The Eaton Vance Building, 255 State Street, Boston, Massachusetts					02109
(Address of principal executive offices)					(Zip code)

Maureen A. Gemma The Eaton Vance Building, 255 State Street, Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant’s telephone number, including area code:				(617) 482-8260

Date of fiscal year end:	November 30

Date of reporting period:		November 30, 2007

Item 1. Reports to Stockholders

Annual Report November 30, 2007

EATON VANCE
MUNICIPAL
INCOME
TRUSTS

CLOSED-END FUNDS:

California

Florida

Massachusetts

Michigan

New Jersey

New York

Ohio

Pennsylvania

IMPORTANT NOTICES REGARDING PRIVACY,
DELIVERY OF SHAREHOLDER DOCUMENTS,
PORTFOLIO HOLDINGS AND PROXY VOTING

Privacy. The Eaton Vance organization is committed to ensuring your financial privacy. Each of the financial institutions identified below has in effect the following policy ("Privacy Policy") with respect to nonpublic personal information about its customers:

• Only such information received from you, through application forms or otherwise, and information about your Eaton Vance fund transactions will be collected. This may include information such as name, address, social security number, tax status, account balances and transactions.

• None of such information about you (or former customers) will be disclosed to anyone, except as permitted by law (which includes disclosure to employees necessary to service your account). In the normal course of servicing a customer's account, Eaton Vance may share information with unaffiliated third parties that perform various required services such as transfer agents, custodians and broker/dealers.

• Policies and procedures (including physical, electronic and procedural safeguards) are in place that are designed to protect the confidentiality of such information.

• We reserve the right to change our Privacy Policy at any time upon proper notification to you. Customers may want to review our Policy periodically for changes by accessing the link on our homepage: www.eatonvance.com.

Our pledge of privacy applies to the following entities within the Eaton Vance organization: the Eaton Vance Family of Funds, Eaton Vance Management, Eaton Vance Investment Counsel, Boston Management and Research, and Eaton Vance Distributors, Inc.

In addition, our Privacy Policy only applies to those Eaton Vance customers who are individuals and who have a direct relationship with us. If a customer's account (i.e., fund shares) is held in the name of a third-party financial adviser/broker-dealer, it is likely that only such adviser's privacy policies apply to the customer. This notice supersedes all previously issued privacy disclosures.

For more information about Eaton Vance's Privacy Policy, please call 1-800-262-1122.

Delivery of Shareholder Documents. The Securities and Exchange Commission (the "SEC") permits funds to deliver only one copy of shareholder documents, including prospectuses, proxy statements and shareholder reports, to fund investors with multiple accounts at the same residential or post office box address. This practice is often called "householding" and it helps eliminate duplicate mailings to shareholders.

Eaton Vance, or your financial adviser, may household the mailing of your documents indefinitely unless you instruct Eaton Vance, or your financial adviser, otherwise.

If you would prefer that your Eaton Vance documents not be householded, please contact Eaton Vance at
1-800-262-1122, or contact your financial adviser.

Your instructions that householding not apply to delivery of your Eaton Vance documents will be effective within 30 days of receipt by Eaton Vance or your financial adviser.

Portfolio Holdings. Each Eaton Vance Fund and its underlying Portfolio (if applicable) will file a schedule of its portfolio holdings on Form N-Q with the SEC for the first and third quarters of each fiscal year. The Form N-Q will be available on the Eaton Vance website www.eatonvance.com, by calling Eaton Vance at 1-800-262-1122 or in the EDGAR database on the SEC's website at www.sec.gov. Form N-Q may also be reviewed and copied at the SEC's public reference room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the public reference room).

Proxy Voting. From time to time, funds are required to vote proxies related to the securities held by the funds. The Eaton Vance Funds or their underlying Portfolios (if applicable) vote proxies according to a set of policies and procedures approved by the Funds' and Portfolios' Boards. You may obtain a description of these policies and procedures and information on how the Funds or Portfolios voted proxies relating to portfolio securities during the most recent 12 month period ended June 30, without charge, upon request, by calling 1-800-262-1122. This description is also available on the SEC's website at www.sec.gov.

Eaton Vance Municipal Income Trusts as of November 30, 2007

Table Of Contents

Management’s Discussion of Fund Performance	2

Performance Information and Portfolio Composition

California Municipal Income Trust	3
Florida Municipal Income Trust	4
Massachusetts Municipal Income Trust	5
Michigan Municipal Income Trust	6
New Jersey Municipal Income Trust	7
New York Municipal Income Trust	8
Ohio Municipal Income Trust	9
Pennsylvania Municipal Income Trust	10

Financial Statements	11

Federal Tax Information	71

Dividend Reinvestment Plan	72

Board of Trustees’ Annual Approval of the Investment Advisory Agreements	74

Management and Organization	77

Eaton Vance Municipal Income Trusts as of November 30, 2007

management’s discussion of fund performance

Eaton Vance Municipal Income Trusts (the “Trusts”) are closed-end Trusts, traded on the American Stock Exchange, which are designed to provide current income exempt from regular federal income tax and state personal income taxes, as applicable. This income is earned by investing primarily in investment-grade municipal securities.

Economic and Market Conditions

Economic growth in the third quarter of 2007 rose 4.9%, following the 3.8% growth rate achieved in the second quarter of 2007, according to preliminary Commerce Department data. At the end of November 2007, the housing sector continued to struggle due to market concerns related to subprime mortgages. However, the weaker dollar is having a stimulative effect on economic growth in export-related industries, tourism, and on U.S.-based multinational companies whose foreign profits are translated into more dollars. Overall, we believe the economy appears to be slowing, but in a somewhat controlled manner.

According to the Federal Reserve (the “Fed”), core inflation (which excludes the food and energy sectors) was still fairly well contained within the upper end of the Fed’s comfort zone. However, more volatile oil and food costs posed a potential threat for overall inflation longer-term. On September 18, 2007, the Fed lowered its Federal Funds rate by 50 basis points to 4.75% from 5.25% – its first rate cut since the Fed stopped raising rates in June 2006 – and simultaneously lowered the Discount Rate by 50 basis points to 5.25% from 5.75%. On October 31, 2007, the Fed further cut the Fed Funds rate by 0.25% to 4.50% and the Discount Rate by 0.25% to 5.00%. (Shortly after this reporting period, the Fed once again cut the Fed Funds rate on December 11, 2007 by 25 basis points to 4.25% and the Discount Rate by 25 basis points to 4.75%.) Management believes that these moves were aimed at providing liquidity during a period of increased uncertainty and tighter credit conditions that surfaced rapidly in mid-August and intensified in November.

For the year ended November 30, 2007, the Lehman Brothers Municipal Bond Index(1) (the “Index”), an unmanaged index of municipal bonds, posted a gain of 2.71%. For more information about each Trust’s performance and that of funds in the same Lipper Classification,(1) see the Performance Information and Portfolio Composition pages that follow.

Management Discussion

The Trusts invest primarily in bonds with stated maturities of 10 years or longer, as longer-maturity bonds historically have provided greater tax-exempt income for investors than shorter-maturity bonds.

The Trusts underperformed their benchmark Index for the year ended November 30, 2007. Management believes that much of the underperformance can be attributed to the broader-based credit scare that took hold of the fixed-income markets in August and November of 2007 that lead to a flight-to-quality bid in the Treasury market, particularly in shorter-maturity bonds. This move was driven by the continuing fear that financial companies may experience further write-downs as a result of their exposure to mortgage-backed collateralized debt obligations (CDO’s), coupled with the disclosure by some of the major municipal bond insurers of their exposure to mortgage related CDO debt. As a result of our active management style that focuses on income and longer call protection, the Trusts generally hold longer-duration bonds. The flight to shorter-maturity (duration) bonds during September and November 2007 resulted in the Trusts’ relative underperformance for the period.

In November 2007, yield ratios for many municipal bonds exceeded those seen in late August 2007, when they were in the low 90%’s. Management believes that this was the result of dislocation in the fixed-income marketplace caused by the sub-prime contagion fears, insurance companies’ mark-to-market risks, and the decentralized nature of the municipal marketplace.

The ratio of yields on current coupon AAA-rated insured bonds to the yield on the 30-year Treasury bond was 104% as of November 30, 2007, with many individual bonds trading higher than 104%.(2) Historically, this is a rare occurrence in the municipal bond market and is generally considered a signal that municipal bonds are significantly undervalued compared to Treasuries.

With this backdrop, we continue to manage all of our municipal funds and trusts with the same relative value approach that we have traditionally employed — maintaining a long-term perspective when markets exhibit extreme short-term volatility. The Eaton Vance culture and philosophy have not changed, and we believe they have provided excellent long-term benefits to our investors over time.

(1)		It is not possible to invest directly in an Index or a Lipper Classification. The Index’s total return does not reflect expenses that would have been incurred if an investor individually purchased or sold the securities represented in the Index.
(2)		Source: Bloomberg L.P. Yields are a compilation of a representative variety of general obligations and are not necessarily representative of a Trust’s yield.
		Past performance is no guarantee of future results.

Trust shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.

The views expressed throughout this report are those of the portfolio managers and are current only through the end of the period of the report as stated on the cover. These views are subject to change at any time based upon market or other conditions, and the investment adviser disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund are based on many factors, may not be relied on as an indication of trading intent on behalf of any Eaton Vance fund.

Eaton Vance California Municipal Income Trust as of November 30, 2007

Performance information and portfolio composition

Trust Performance as of 11/30/07(1)

AMEX Symbol	CEV

Average Annual Total Returns (by share price, American Stock Exchange)
One Year	-8.44	%
Five Years	5.25
Life of Trust (1/29/99)	4.46

Average Annual Total Returns (by net asset value)
One Year	-3.65	%
Five Years	6.79
Life of Trust (1/29/99)	6.12

Market Yields

Market Yield(2)	5.06	%
Taxable Equivalent Market Yield(3)	8.58

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
One Year	2.71	%
Five Years	4.68
Life of Trust (1/31/99)	4.96

Lipper Averages(5)

Lipper California Municipal Debt Funds Classification – Average Annual Total Returns (by net asset value)
One Year	-0.23	%
Five Years	6.17
Life of Trust (1/31/99)	5.30

Portfolio Manager: Cynthia J. Clemson

Rating Distribution*(6),(7)

By total investments

* The rating distribution presented above includes the ratings of securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements. Absent such securities, the Trust’s rating distribution at November 30, 2007, is as follows, and the average rating is AA-:

AAA	50.9	%
AA	4.9	%
A	25.3	%
BBB	9.6	%
Not Rated	9.3	%

Trust Statistics(7),(8)

· Number of Issues:		95
· Average Maturity:		23.1 years
· Average Effective Maturity:		13.0 years
· Average Call Protection:		8.2 years
· Average Dollar Price:		$90.87
· Leverage:**		35.2%

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value or share price (as applicable) with all distributions reinvested. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Trust’s current performance may be lower or higher than the quoted return. For performance as of the most recent month end, please refer to www.eatonvance.com.

** The leverage amount is Auction Preferred Shares at liquidation value as a percentage of the Trust’s net assets applicable to common shares plus Auction Preferred Shares. The Trust uses leverage through the issuance of preferred shares. Use of financial leverage creates an opportunity for increased income but, at the same time, creates special risks (including the likelihood of greater volatility of net asset value and market price of common shares).

(1) Returns are historical and are calculated by determining the percentage change in share price or net asset value with all distributions reinvested. The Trust’s performance at market share price will differ from its results at NAV. Although share price performance generally reflects investment results over time, during shorter periods, returns at share price can also be affected by factors such as changing perceptions about the Trust, market conditions, fluctuations in supply and demand for the Trust’s shares, or changes in Trust distributions. Performance results reflect the effect of leverage resulting from the Trust’s issuance of Auction Preferred Shares.

(2) The Trust’s market yield is calculated by dividing the last dividend paid per common share of the fiscal year by the share price at the end of the fiscal year and annualizing the result.

(3) Taxable-equivalent figure assumes a maximum 41.05% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(4) It is not possible to invest directly in an Index. The Index’s total return does not reflect the expenses that would have been incurred if an investor individually purchased or sold the securities represented in the Index. Index performance is available as of month end only.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper California Municipal Debt Funds Classification (closed-end) contained 24, 24 and 13 funds for the 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) As of 11/30/07. Portfolio information may not be representative of the Trust’s current or future investments and may change due to active management.

(8) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest.

See Note 1H to the Trust’s financial statements.

Eaton Vance Florida Municipal Income Trust* as of November 30, 2007

performance information and portfolio composition

* As of January 1, 2008, Eaton Vance Florida Municipal Income Trust changed its name to Eaton Vance Florida Plus Municipal Income Trust.

Trust Performance as of 11/30/07(1)

AMEX Symbol	FEV

Average Annual Total Returns (by share price, American Stock Exchange)
One Year	-6.02	%
Five Years	3.46
Life of Trust (1/29/99)	4.12

Average Annual Total Returns (by net asset value)
One Year	-2.26	%
Five Years	6.07
Life of Trust (1/29/99)	5.87

Market Yields

Market Yield(2)	5.00	%
Taxable Equivalent Market Yield(3)	7.69

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
One Year	2.71	%
Five Years	4.68
Life of Trust (1/31/99)	4.96

Lipper averages(5)

Lipper Florida Municipal Debt Funds Classification – Average Annual Total Returns (by net asset value)
One Year	0.38	%
Five Years	5.49
Life of Trust (1/31/99)	4.94

Portfolio Manager: Cynthia J. Clemson

Rating Distribution*(6),(7)

By total investments

AAA	62.3	%
AA	10.0	%
A	10.6	%
BBB	2.1	%
CCC	0.7	%
Not Rated	14.3	%

Trust Statistics(7),(8)

· Number of Issues:		92
· Average Maturity:		25.3 years
· Average Effective Maturity:		12.3 years
· Average Call Protection:		8.1 years
· Average Dollar Price:		$96.30
· Leverage:**		36.1%

(2) The Trust’s market yield is calculated by dividing the last dividend paid per common share of the fiscal year by the share price at the end of the fiscal year and annualizing the result.

(3) Taxable-equivalent figure assumes a maximum 35.00% federal income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(4) It is not possible to invest directly in an Index. The Index’s total return does not reflect the expenses that would have been incurred if an investor individually purchased or sold the securities represented in the Index. Index performance is available as of month end only.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Florida Municipal Debt Funds Classification (closed-end) contained 15, 14 and 9 funds for the 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) As of 11/30/07. Portfolio information may not be representative of the Trust’s current or future investments and may change due to active management.

(8) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest.

See Note 1H to the Trust’s financial statements.

Eaton Vance Massachusetts Municipal Income Trust as of November 30, 2007

performance information and portfolio composition

Trust Performance as of 11/30/07(1)

AMEX Symbol	MMV

Average Annual Total Returns (by share price, American Stock Exchange)
One Year	-8.57	%
Five Years	2.14
Life of Trust (1/29/99)	4.19

Average Annual Total Returns (by net asset value)
One Year	-3.94	%
Five Years	6.48
Life of Trust (1/29/99)	5.74

Market Yields

Market Yield(2)	4.90	%
Taxable Equivalent Market Yield(3)	7.96

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
One Year	2.71	%
Five Years	4.68
Life of Trust (1/31/99)	4.96

Lipper averages(5)

Lipper Other States Municipal Debt Funds Classification – Average Annual Total Returns (by net asset value)
One Year	0.46	%
Five Years	5.91
Life of Trust (1/31/99)	5.37

Portfolio Manager: Robert B. MacIntosh, CFA

Rating Distribution*(6),(7)

By total investments

AAA	42.0	%
AA	18.8	%
A	17.0	%
BBB	10.5	%
BB	1.2	%
Not Rated	10.5	%

Trust Statistics(7),(8)

· Number of Issues:		64
· Average Maturity:		28.1 years
· Average Effective Maturity:		15.8 years
· Average Call Protection:		9.0 years
· Average Dollar Price:		$96.8
· Leverage:**		34.8%

(1) Returns are historical and are calculated by determining the percentage change in share price or net asset value with all distributions reinvested. The Trust’s performance at market share price will differ from its results at NAV. Although share price performance generally reflects investment results over time, during shorter periods, returns at share price can also be affected by factors such as changing perceptions about the Trust, market conditions, fluctuations in supply and demand for the Trust’s shares, or changes in Trust distributions. Performance results reflect the effect of leverage resulting from the Trust’s issuance of Auction Preferred Shares.

(2) The Trust’s market yield is calculated by dividing the last dividend paid per common share of the fiscal year by the share price at the end of the fiscal year and annualizing the result.

(3) Taxable-equivalent figure assumes a maximum 38.45% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Other States Municipal Debt Funds Classification (closed-end) contained 46, 46 and 20 funds for the 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) As of 11/30/07. Portfolio information may not be representative of the Trust’s current or future investments and may change due to active management.

(8) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest.

See Note 1H to the Trust’s financial statements.

Eaton Vance Michigan Municipal Income Trust as of November 30, 2007

PERFORMANCE INFORMATION AND PORTFOLIO COMPOSITION

Trust Performance as of 11/30/07(1)

AMEX Symbol	EMI

Average Annual Total Returns (by share price, American Stock Exchange)
One Year	-7.66	%
Five Years	3.54
Life of Trust (1/29/99)	3.76

Average Annual Total Returns (by net asset value)
One Year	-1.37	%
Five Years	6.10
Life of Trust (1/29/99)	5.59

Market Yields

Market Yield(2)	4.88	%
Taxable Equivalent Market Yield(3)	7.81

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
One Year	2.71	%
Five Years	4.68
Life of Trust (1/31/99)	4.96

Lipper averages(5)

Lipper Michigan Municipal Debt Funds Classification – Average Annual Total Returns (by net asset value)
One Year	0.34	%
Five Years	5.72
Life of Trust (1/31/99)	5.33

Portfolio Manager: William H. Ahern, CFA

Rating Distribution*(6),(7)

By total investments

* The rating distribution presented above includes the ratings of securities held by special purpose vehicles in which the Trust holds a residual interest. See Note 1H to the Trust’s financial statements. Absent such securities, the Trust’s rating distribution at November 30, 2007, is as follows, and the average rating is AA-:

AAA	50.8	%
AA	11.8	%
A	13.4	%
BBB	12.5	%
BB	3.1	%
CCC	1.3	%
Not Rated	7.1	%

Trust Statistics(7),(8)

· Number of Issues:		57
· Average Maturity:		22.8 years
· Average Effective Maturity:		9.1 years
· Average Call Protection:		5.5 years
· Average Dollar Price:		$97.39
· Leverage:**		36.3%

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value or share price (as applicable) with all distributions reinvested. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Trust’s current performance may be lower or higher than the quoted return. For performance as of the most recent month end, please refer to www.eatonvance.com.

** The leverage amount is Auction Preferred Shares at liquidation value as a percentage of the Trust’s net assets applicable to common shares plus Auction Preferred Shares. The Trust uses leverage through the issuance of preferred shares. Use of financial leverage creates an opportunity for increased income but, at the same time, creates special risks (including the likelihood of greater volatility of net asset value and market price of common shares).

(2) The Trust’s market yield is calculated by dividing the last dividend paid per common share of the fiscal year by the share price at the end of the fiscal year and annualizing the result.

(3) Taxable-equivalent figure assumes a maximum 37.54% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Michigan Municipal Debt Funds Classification (closed-end) contained 7, 7 and 5 funds for the 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) As of 11/30/07. Portfolio information may not be representative of the Trust’s current or future investments and may change due to active management.

(8) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest.

See Note 1H to the Trust’s financial statements.

Eaton Vance New Jersey Municipal Income Trust as of November 30, 2007

PERFORMANCE INFORMATION AND PORTFOLIO COMPOSITION

Trust Performance as of 11/30/07(1)

AMEX Symbol	EVJ

Average Annual Total Returns (by share price, American Stock Exchange)
One Year	-11.28	%
Five Years	3.58
Life of Trust (1/29/99)	4.19

Average Annual Total Returns (by net asset value)
One Year	-3.59	%
Five Years	7.34
Life of Trust (1/29/99)	6.03

Market Yields

Market Yield(2)	4.77	%
Taxable Equivalent Market Yield(3)	8.06

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
One Year	2.71	%
Five Years	4.68
Life of Trust (1/31/99)	4.96

Lipper Averages(5)

Lipper New Jersey Debt Funds Classification – Average Annual Total Returns (by net asset value)
One Year	-0.33	%
Five Years	6.38
Life of Trust (1/31/99)	5.35

Portfolio Manager: Robert B. MacIntosh, CFA

Rating Distribution*(6),(7)

By total investments

AAA	46.1	%
AA	3.6	%
A	17.4	%
BBB	26.1	%
BB	0.3	%
B	1.5	%
Not Rated	5.0	%

Trust Statistics(7),(8)

· Number of Issues:		70
· Average Maturity:		24.8 years
· Average Effective Maturity:		13.8 years
· Average Call Protection:		8.5 years
· Average Dollar Price:		$92.49
· Leverage:**		35.5%

(2) The Trust’s market yield is calculated by dividing the last dividend paid per common share of the fiscal year by the share price at the end of the fiscal year and annualizing the result.

(3) Taxable-equivalent figure assumes a maximum 40.83% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper New Jersey Municipal Debt Funds Classification (closed-end) contained 13, 13 and 8 funds for the 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) As of 11/30/07. Portfolio information may not be representative of the Trust’s current or future investments and may change due to active management.

(8) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest.

See Note 1H to the Trust’s financial statements.

Eaton Vance New York Municipal Income Trust as of November 30, 2007

PERFORMANCE INFORMATION AND PORTFOLIO COMPOSITION

Trust Performance as of 11/30/07(1)

AMEX Symbol	EVY

Average Annual Total Returns (by share price, American Stock Exchange)
One Year	-5.81	%
Five Years	6.32
Life of Trust (1/29/99)	5.39

Average Annual Total Returns (by net asset value)
One Year	-3.42	%
Five Years	6.69
Life of Trust (1/29/99)	6.32

Market Yields

Market Yield(2)	5.03	%
Taxable Equivalent Market Yield(3)	8.31

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
One Year	2.71	%
Five Years	4.68
Life of Trust (1/31/99)	4.96

Lipper Averages(5)

Lipper New York Municipal Debt Funds Classification – Average Annual Total Returns (by net asset value)
One Year	-0.10	%
Five Years	6.09
Life of Trust (1/31/99)	5.29

Portfolio manager: Craig R. Brandon, CFA

Rating Distribution*(6),(7)

By total investments

AAA	37.	%
AA	24.3	%
A	13.7	%
BBB	10.5	%
BB	1.0	%
B	1.7	%
Not Rated	11.5	%

Trust Statistics(7),(8)

· Number of Issues:		71
· Average Maturity:		24.5 years
· Average Effective Maturity:		13.1 years
· Average Call Protection:		8.6 years
· Average Dollar Price:		$99.76
· Leverage:**		35.2%

(2) The Trust’s market yield is calculated by dividing the last dividend paid per common share of the fiscal year by the share price at the end of the fiscal year and annualizing the result.

(3) Taxable-equivalent figure assumes a maximum 39.45% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper New York Municipal Debt Funds Classification (closed-end) contained 17, 17 and 7 funds for the 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) As of 11/30/07. Portfolio information may not be representative of the Trust’s current or future investments and may change due to active management.

(8) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest.

See Note 1H to the Trust’s financial statements.

Eaton Vance Ohio Municipal Income Trust as of November 30, 2007

Performance information and portfolio composition

Trust Performance as of 11/30/07(1)

AMEX Symbol	EVO

Average Annual Total Returns (by share price, American Stock Exchange)
One Year	-7.93	%
Five Years	3.06
Life of Trust (1/29/99)	4.08

Average Annual Total Returns (by net asset value)
One Year	-1.06	%
Five Years	6.91
Life of Trust (1/29/99)	5.78

Market Yields

Market Yield(2)	4.75	%
Taxable Equivalent Market Yield(3)	7.82

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
One Year	2.71	%
Five Years	4.68
Life of Trust (1/31/99)	4.96

Lipper Averages(5)

Lipper Other States Municipal Debt Funds Classification – Average Annual Total Returns (by net asset value)
One Year	0.46	%
Five Years	5.91
Life of Trust (1/31/99)	5.37

Portfolio Manager: William H. Ahern, CFA

Rating Distribution*(6),(7)

By total investments

AAA	55.2	%
AA	11.7	%
A	15.6	%
BBB	5.5	%
B	2.2	%
Not Rated	9.8	%

Trust Statistics(7),(8)

· Number of Issues:		72
· Average Maturity:		23.0 years
· Average Effective Maturity:		12.1 years
· Average Call Protection:		7.6 years
· Average Dollar Price:		$98.30
· Leverage:**		35.9%

(1) Returns are historical and are calculated by determining the percentage change in share price or net asset value with all distributions reinvested. The Trust’s performance at market share price will differ from its results at NAV. Although share price performance generally reflects investment results over time, during shorter periods, returns at share price can also be affected by factors such as changing perceptions about the Trust, market conditions, fluctuations in supply and demand for the Trust’s shares, or changes in Trust distributions. Performance results reflect the effect of leverage resulting from the Trust’s issuance of Auction Preferred Shares.

(2) The Trust’s market yield is calculated by dividing the last dividend paid per common share of the fiscal year by the share price at the end of the fiscal year and annualizing the result.

(3) Taxable-equivalent figure assumes a maximum 39.26% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Other States Municipal Debt Funds Classification (closed-end) contained 46, 46 and 20 funds for the 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) As of 11/30/07. Portfolio information may not be representative of the Trust’s current or future investments and may change due to active management.

(8) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest.

See Note 1H to the Trust’s financial statements.

Eaton Vance Pennsylvania Municipal Income Trust as of November 30, 2007

Performance information and portfolio composition

Trust Performance as of 11/30/07(1)

AMEX Symbol	EVP

Average Annual Total Returns (by share price, American Stock Exchange)
One Year	-7.95	%
Five Years	4.16
Life of Trust (1/29/99)	4.09

Average Annual Total Returns (by net asset value)
One Year	0.27	%
Five Years	6.84
Life of Trust (1/29/99)	5.85

Market Yields

Market Yield(2)	4.96	%
Taxable Equivalent Market Yield(3)	7.87

Index Performance(4)

Lehman Brothers Municipal Bond Index – Average Annual Total Returns
One Year	2.71	%
Five Years	4.68
Life of Trust (1/31/99)	4.96

Lipper Averages(5)

Lipper Pennsylvania Municipal Debt Funds Classification – Average Annual Total Returns (by net asset value)
One Year	-0.09	%
Five Years	5.85
Life of Trust (1/31/99)	5.40

Portfolio Manager: Adam A. Weigold, CFA

Rating Distribution*(6),(7)

By total investments

AAA	58.0	%
AA	12.1	%
A	11.1	%
BBB	8.3	%
B	1.8	%
CCC	2.4	%
Not Rated	6.3	%

Trust Statistics(7),(8)

· Number of Issues:		71
· Average Maturity:		21.8 years
· Average Effective Maturity:		9.2 years
· Average Call Protection:		5.9 years
· Average Dollar Price:		$99.19
· Leverage:**		35.9%

(2) The Trust’s market yield is calculated by dividing the last dividend paid per common share of the fiscal year by the share price at the end of the fiscal year and annualizing the result.

(3) Taxable-equivalent figure assumes a maximum 37.00% combined federal and state income tax rate. A lower tax rate would result in a lower tax-equivalent figure.

(5) The Lipper Averages are the average annual total returns, at net asset value, of the funds that are in the same Lipper Classification as the Trust. It is not possible to invest in a Lipper Classification. Lipper Classifications may include insured and uninsured funds, as well as leveraged and unleveraged funds. The Lipper Pennsylvania Municipal Debt Funds Classification (closed-end) contained 9, 9 and 5 funds for the 1-year, 5-year and Life-of-Trust time periods, respectively. Lipper Averages are available as of month end only.

(6) Rating Distribution is determined by dividing the total market value of the issues by the total investments of the Trust.

(7) As of 11/30/07. Portfolio information may not be representative of the Trust’s current or future investments and may change due to active management.

(8) Portfolio holdings information excludes securities held by special purpose vehicles in which the Trust holds a residual interest.

See Note 1H to the Trust’s financial statements.

Eaton Vance California Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS

Tax-Exempt Investments — 160.7%
Principal Amount (000's omitted)		Security	Value
Education — 10.9%
$	2,770	California Educational Facilities Authority, (Lutheran University), 5.00%, 10/1/29	$	2,697,980
	500	California Educational Facilities Authority, (Pepperdine University), 5.00%, 11/1/29		513,770
	1,850	California Educational Facilities Authority, (Santa Clara University), 5.00%, 9/1/23		2,004,697
	4,000	California Educational Facilities Authority, (Stanford University), 5.125%, 1/1/31		4,043,680
	2,500	San Diego County, Certificates of Participation, (University of San Diego), 5.375%, 10/1/41		2,557,125
			$	11,817,252
Electric Utilities — 3.4%
$	2,500	Chula Vista, (San Diego Gas), (AMT), 5.00%, 12/1/27	$	2,519,575
	300	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 7.36%, 7/1/25⁽¹⁾⁽²⁾		310,557
	900	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 7.36%, 7/1/37⁽¹⁾⁽²⁾		893,682
			$	3,723,814
Escrowed / Prerefunded — 2.9%
$	1,000	California Educational Facilities Authority, (Dominican University), Prerefunded to 12/1/08, 5.75%, 12/1/30	$	1,031,860
	405	Santa Margarita Water District, Prerefunded to 9/1/09, 6.20%, 9/1/20		432,358
	1,590	Tahoe Forest Hospital District, Prerefunded to 7/1/09, 5.85%, 7/1/22		1,679,612
			$	3,143,830
General Obligations — 9.5%
$	3,500	California, 5.50%, 11/1/33	$	3,720,150
	1,700	California, (AMT), 5.05%, 12/1/36		1,664,266
	4,790	San Francisco Bay Area Rapid Transit District, (Election of 2004), Series B, 4.75%, 8/1/37		4,899,739
			$	10,284,155
Health Care-Miscellaneous — 0.3%
$	300	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), Series A, 6.50%, 10/1/37	$	303,441
			$	303,441

Principal Amount (000's omitted)		Security	Value
Hospital — 28.0%
$	2,435	California Health Facilities Financing Authority, (Cedars-Sinai Medical Center), 5.00%, 11/15/34	$	2,433,149
	750	California Infrastructure and Economic Development Bank, (Kaiser Hospital), 5.50%, 8/1/31		769,935
	3,900	California Statewide Communities Development Authority, (Huntington Memorial Hospital), 5.00%, 7/1/35		3,865,251
	1,750	California Statewide Communities Development Authority, (John Muir Health), 5.00%, 8/15/36		1,731,450
	765	California Statewide Communities Development Authority, (John Muir Health), Series A, 5.00%, 8/15/34		759,370
	850	California Statewide Communities Development Authority, (Kaiser Permanente), 5.00%, 3/1/41		831,062
	3,100	California Statewide Communities Development Authority, (Kaiser Permanente), 5.25%, 3/1/45		3,120,367
	1,650	California Statewide Communities Development Authority, (Kaiser Permanente), 5.50%, 11/1/32		1,684,798
	1,750	California Statewide Communities Development Authority, (Sonoma County Indian Health), 6.40%, 9/1/29		1,813,840
	1,500	California Statewide Communities Development Authority, (Sutter Health), 5.50%, 8/15/28		1,558,710
	1,500	Duarte, Hope National Medical Center, (City of Hope), 5.25%, 4/1/24		1,519,560
	1,000	Stockton Health Facilities Authority, (Dameron Hospital), 5.70%, 12/1/14		1,020,940
	410	Tahoe Forest Hospital District, 5.85%, 7/1/22		419,282
	2,000	Torrance Hospital, (Torrance Memorial Medical Center), 5.50%, 6/1/31		2,043,500
	2,000	Turlock, (Emanuel Medical Center, Inc.), 5.375%, 10/15/34		1,999,860
	2,780	Washington Township Health Care District, 5.00%, 7/1/32		2,756,565
	2,000	Washington Township Health Care District, 5.25%, 7/1/29		2,013,520
			$	30,341,159
Housing — 1.1%
$	741	Commerce (Hermitage III Senior Apartments), 6.50%, 12/1/29	$	771,811
	429	Commerce (Hermitage III Senior Apartments), 6.85%, 12/1/29		442,533
			$	1,214,344
Industrial Development Revenue — 1.6%
$	2,000	California Statewide Communities Development Authority, (Anheuser Busch Project), 4.80%, 9/1/46	$	1,766,560
			$	1,766,560

See notes to financial statements
11

Eaton Vance California Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS CONT'D

Principal Amount (000's omitted)		Security	Value
Insured-Education — 5.9%
$	3,270	California Educational Facilities Authority, (Pooled College and University), (MBIA), 5.10%, 4/1/23	$	3,351,488
	3,000	California State University, (AMBAC), 5.00%, 11/1/33		3,086,490
			$	6,437,978
Insured-Electric Utilities — 14.3%
$	2,500	California Pollution Control Financing Authority, (Pacific Gas and Electric), (MBIA), (AMT), 5.35%, 12/1/16	$	2,639,325
	3,250	California Pollution Control Financing Authority, (Southern California Edison Co.), (MBIA), (AMT), 5.55%, 9/1/31		3,350,197
	5,000	Los Angeles Department of Water and Power, Power System Revenues, (AMBAC), 5.00%, 7/1/37		5,250,350
	3,625	Los Angeles Department of Water and Power, Power System Revenues, (FSA), 4.625%, 7/1/37		3,634,062
	500	Puerto Rico Electric Power Authority, (MBIA), Variable Rate, 8.775%, 7/1/16⁽¹⁾⁽²⁾		695,245
			$	15,569,179
Insured-Escrowed / Prerefunded — 6.5%
$	5,130	Foothill/Eastern Transportation Corridor Agency, (FSA), Escrowed to Maturity, 0.00%, 1/1/26	$	2,249,710
	2,500	Los Angeles County Metropolitan Transportation Authority, (FGIC), Prerefunded to 7/1/10, 5.25%, 7/1/30		2,650,150
	1,995	Puerto Rico Electric Power Authority, (FSA), Prerefunded to 7/1/10, 5.25%, 7/1/29⁽³⁾		2,114,833
			$	7,014,693
Insured-General Obligations — 13.7%
$	7,000	Coast Community College District, (Election of 2002), (FSA), 0.00%, 8/1/34	$	1,722,490
	4,825	Coast Community College District, (Election of 2002), (FSA), 0.00%, 8/1/35		1,121,764
	2,500	Puerto Rico, (FSA), Variable Rate, 8.409%, 7/1/27⁽¹⁾⁽²⁾		2,947,450
	4,800	San Diego Unified School District, (MBIA), 5.50%, 7/1/24⁽³⁾		5,536,752
	7,995	Sweetwater Union High School District, (Election 2000), (FSA), 0.00%, 8/1/25		3,512,203
			$	14,840,659
Insured-Hospital — 6.6%
$	3,200	California Statewide Communities Development Authority, (Children's Hospital Los Angeles), (MBIA), 5.25%, 8/15/29⁽⁴⁾	$	3,296,192
	3,735	California Statewide Communities Development Authority, (Sutter Health), (FSA), 5.75%, 8/15/27⁽³⁾		3,883,466
			$	7,179,658

Principal Amount (000's omitted)		Security	Value
Insured-Lease Revenue / Certificates of Participation — 8.3%
$	6,500	Anaheim Public Financing Authority, Lease Revenue, (Public Improvements), (FSA), 0.00%, 9/1/17	$	4,329,585
	10,750	Anaheim Public Financing Authority, Lease Revenue, (Public Improvements), (FSA), 0.00%, 9/1/25		4,647,333
			$	8,976,918
Insured-Special Tax Revenue — 5.6%
$	1,185	Palm Springs Community Redevelopment Agency Tax Allocation (Merged Project No.1), Series A, (AMBAC), 5.00%, 9/1/30	$	1,225,124
	24,800	Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54		2,259,280
	4,225	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44		650,059
	8,380	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45		1,223,815
	5,270	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46		729,684
			$	6,087,962
Insured-Transportation — 8.9%
$	5,000	Alameda Corridor Transportation Authority, (AMBAC), 0.00%, 10/1/29	$	1,744,800
	8,000	Alameda Corridor Transportation Authority, (MBIA), 0.00%, 10/1/31		2,558,720
	740	Puerto Rico Highway and Transportation Authority, (AGC), (CIFG), 5.25%, 7/1/41⁽³⁾		803,215
	1,500	San Francisco City and County Airport Commission, International Airport Revenue, (FGIC), (AMT), Variable Rate, 7.356%, 5/1/30⁽¹⁾⁽²⁾		1,520,160
	10,000	San Joaquin Hills Transportation Corridor Agency, (MBIA), 0.00%, 1/15/32		2,995,300
			$	9,622,195
Insured-Water and Sewer — 1.7%
$	1,950	Calleguas Las Virgenes Public Financing Authority, (Municipal Water District), (MBIA), 4.25%, 7/1/32	$	1,841,015
			$	1,841,015
Insured-Water Revenue — 5.5%
$	4,400	Los Angeles, Department of Water and Power, (MBIA), 3.00%, 7/1/30	$	3,419,988
	2,710	San Francisco City and County Public Utilities Commission, (FSA), 4.25%, 11/1/33		2,570,679
			$	5,990,667
Lease Revenue / Certificates of Participation — 4.1%
$	4,000	Sacramento City Financing Authority, 5.40%, 11/1/20	$	4,471,320
			$	4,471,320

See notes to financial statements
12

Eaton Vance California Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS CONT'D

Principal Amount (000's omitted)		Security	Value
Other Revenue — 3.5%
$	385	California Infrastructure and Economic Development Bank, (Performing Arts Center of Los Angeles), 5.00%, 12/1/32	$	392,161
	580	California Infrastructure and Economic Development Bank, (Performing Arts Center of Los Angeles), 5.00%, 12/1/37		589,819
	3,045	Golden State Tobacco Securitization Corp., 5.75%, 6/1/47		2,867,172
			$	3,849,152
Senior Living / Life Care — 0.7%
$	175	California Statewide Communities Development Authority, (Senior Living - Presbyterian Homes), 4.75%, 11/15/26	$	164,469
	700	California Statewide Communities Development Authority, (Senior Living - Presbyterian Homes), 4.875%, 11/15/36		645,995
			$	810,464
Special Tax Revenue — 16.6%
$	1,500	Bonita Canyon Public Financing Authority, 5.375%, 9/1/28	$	1,468,650
	285	Brentwood Infrastructure Financing Authority, 5.00%, 9/2/26		267,638
	460	Brentwood Infrastructure Financing Authority, 5.00%, 9/2/34		417,487
	1,665	Corona Public Financing Authority, 5.80%, 9/1/20		1,666,648
	200	Eastern California Municipal Water District, Special Tax Revenue, District No. 2004-27 Cottonwood, 5.00%, 9/1/27		184,740
	500	Eastern California Municipal Water District, Special Tax Revenue, District No. 2004-27 Cottonwood, 5.00%, 9/1/36		444,635
	1,590	Fontana Redevelopment Agency, (Jurupa Hills), 5.60%, 10/1/27		1,633,502
	1,305	Lincoln Public Financing Authority, Improvement Bond Act of 1915, (Twelve Bridges), 6.20%, 9/2/25		1,344,620
	420	Moreno Valley Unified School District, (Community School District No. 2003-2), 5.75%, 9/1/24		422,701
	750	Moreno Valley Unified School District, (Community School District No. 2003-2), 5.90%, 9/1/29		753,795
	2,450	Oakland Joint Powers Financing Authority, 5.40%, 9/2/18		2,530,336
	995	Oakland Joint Powers Financing Authority, 5.50%, 9/2/24		1,026,313
	1,325	San Pablo Redevelopment Agency, 5.65%, 12/1/23		1,375,960
	1,095	Santa Margarita Water District, 6.20%, 9/1/20		1,133,938
	250	Santaluz Community Facilities District No. 2, 6.10%, 9/1/21		250,535
	500	Santaluz Community Facilities District No. 2, 6.20%, 9/1/30		500,750
	250	Temecula Unified School District, 5.00%, 9/1/27		236,618
	400	Temecula Unified School District, 5.00%, 9/1/37		365,664
	500	Turlock Public Financing Authority, 5.45%, 9/1/24		504,590
	500	Tustin Community Facilities District, 6.00%, 9/1/37		508,245
	1,000	Whittier Public Financing Authority, (Greenleaf Avenue Redevelopment), 5.50%, 11/1/23		1,012,610
			$	18,049,975

Principal Amount (000's omitted)		Security	Value
Transportation — 1.1%
$	1,170	Port of Redwood City, (AMT), 5.125%, 6/1/30	$	1,152,333
			$	1,152,333
Total Tax-Exempt Investments — 160.7% (identified cost $169,282,645)			$	174,488,723
Other Assets, Less Liabilities — (6.4)%			$	(6,921,483	)
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (54.3)%			$	(59,000,000	)
Net Assets Applicable to Common Shares — 100.0%			$	108,567,240

AMBAC - AMBAC Financial Group, Inc.

AMT - Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.

CIFG - CIFG Assurance North America, Inc.

DRIVERS - Derivative Inverse Tax-Exempt Receipts

FGIC - Financial Guaranty Insurance Company

FSA - Financial Security Assurance, Inc.

MBIA - Municipal Bond Insurance Association

The Trust invests primarily in debt securities issued by California municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at November 30, 2007, 47.9% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 0.5% to 18.8% of total investments.

⁽¹⁾Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2007, the aggregate value of the securities is $6,367,094 or 5.9% of the Trust's net assets applicable to common shares.

⁽²⁾Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at November 30, 2007.

⁽³⁾Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Trust.

⁽⁴⁾Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts.

See notes to financial statements
13

Eaton Vance Florida Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS

Tax-Exempt Investments — 175.0%
Principal Amount (000's omitted)		Security	Value
Education — 1.6%
$	1,000	Volusia County Educational Facilities Authority, (Embry Riddle Aeronautical), 5.75%, 10/15/29	$	1,011,120
			$	1,011,120
Escrowed / Prerefunded — 8.8%
$	500	Capital Trust Agency, (Seminole Tribe Convention), Prerefunded to 10/1/12, 8.95%, 10/1/33⁽¹⁾	$	628,350
	1,805	Lakeland Hospital System, (Lakeland Regional Health System), Prerefunded to 11/15/12, 5.50%, 11/15/32		1,998,388
	1,200	Lee County Industrial Development Authority, (Shell Point Village), Prerefunded to 11/15/09, 5.50%, 11/15/29		1,260,792
	1,075	South Miami Health Facility Authority, Hospital Revenue, (Baptist Health), Prerefunded to 2/1/13, 5.25%, 11/15/33		1,168,127
	440	Vista Lakes Community Development District, Prerefunded to 5/1/10, 7.20%, 5/1/32		479,613
			$	5,535,270
Health Care-Miscellaneous — 0.6%
$	147	Osceola County Industrial Development Authority, Community Provider Pooled Loan, 7.75%, 7/1/17	$	147,096
	200	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), Series A, 6.50%, 10/1/37		202,294
			$	349,390
Hospital — 17.9%
$	850	Brevard County Health Facilities Authority, (Health First, Inc.), 5.00%, 4/1/36	$	827,339
	500	Highlands County Health Facilities Authority, (Adventist Health System), 5.25%, 11/15/36		505,685
	1,030	Jacksonville Economic Development Authority, (Mayo Clinic), 5.00%, 11/15/36		1,036,685
	1,250	Jacksonville Economic Development Authority, (Mayo Clinic), 5.50%, 11/15/36		1,306,612
	1,000	Orange County Health Facilities Authority, (Orlando Regional Healthcare), 4.75%, 11/15/36		927,370
	2,050	Orange County Health Facilities Authority, (Orlando Regional Healthcare), 5.125%, 11/15/39		2,055,535
	3,135	South Miami Health Facility Authority, Hospital Revenue, (Baptist Health), 5.00%, 8/15/42		3,127,068
	1,400	West Orange Health Care District, 5.80%, 2/1/31		1,443,694
			$	11,229,988

Principal Amount (000's omitted)		Security	Value
Housing — 5.6%
$	650	Capital Trust Agency, (Atlantic Housing Foundation), 5.30%, 7/1/35	$	601,724
	505	Escambia County Housing Finance Authority, Single Family Mortgage, (Multi-County Program), (AMT), 5.50%, 10/1/31		509,373
	475	Florida Capital Projects Finance Authority, Student Housing Revenue, (Florida University), Prerefunded to 8/15/10, 7.75%, 8/15/20		531,306
	2,000	Maryland Community Development Authority, Multifamily Housing, (AMT), 4.85%, 9/1/47		1,852,180
			$	3,494,583
Industrial Development Revenue — 7.6%
$	754	Broward County, Industrial Development Revenue, (Lynxs Cargoport), (AMT), 6.75%, 6/1/19	$	758,953
	1,000	Capital Trust Agency, (Fort Lauderdale Project), (AMT), 5.75%, 1/1/32		988,640
	2,250	Liberty, NY, Development Corp., (Goldman Sachs Group, Inc.), 5.25%, 10/1/35		2,391,885
	650	Puerto Rico Port Authority, (American Airlines), (AMT), 6.30%, 6/1/23		633,399
			$	4,772,877
Insured-Education — 12.4%
$	3,500	Broward County Educational Facilities Authority, (Nova Southeastern University), (AGC), 5.00%, 4/1/36	$	3,601,920
	2,820	Florida Gulf Coast University Financing Corporation, (MBIA), 4.75%, 8/1/32		2,834,608
	645	Orange County Educational Facilities Authority, (Rollins College Project), (AMBAC), 5.25%, 12/1/32		685,596
	650	Orange County Educational Facilities Authority, (Rollins College Project), (AMBAC), 5.25%, 12/1/37		689,189
			$	7,811,313
Insured-Electric Utilities — 7.1%
$	1,600	Burke County, GA, Development Authority, (Georgia Power Co.), (MBIA), (AMT), 5.45%, 5/1/34	$	1,601,568
	1,100	Guam Power Authority, (MBIA), 5.125%, 10/1/29		1,132,857
	1,700	Jupiter Island, Utility System, (South Martin Regional Utility), (MBIA), 5.00%, 10/1/28		1,724,089
			$	4,458,514

See notes to financial statements
14

Eaton Vance Florida Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS CONT'D

Principal Amount (000's omitted)		Security	Value
Insured-Escrowed / Prerefunded — 6.6%
$	650	Dade County, Professional Sports Franchise Facility, (MBIA), Escrowed to Maturity, 5.25%, 10/1/30	$	730,561
	1,050	Jupiter Island, Utility System, (South Martin Regional Utility), (MBIA), Prerefunded to 10/1/08, 5.00%, 10/1/28		1,074,549
	1,470	Miami Beach, Resort Tax, (AMBAC), Escrowed to Maturity, 6.25%, 10/1/22		1,795,914
	500	Orange County Tourist Development Tax, (AMBAC), Prerefunded to 4/1/12, 5.125%, 10/1/30		536,670
			$	4,137,694
Insured-General Obligations — 2.8%
$	1,500	Puerto Rico, (FSA), Variable Rate, 8.409%, 7/1/27⁽¹⁾⁽²⁾	$	1,768,470
			$	1,768,470
Insured-Hospital — 1.6%
$	1,000	Maricopa County Industrial Development Authority, (Mayo Clinic Hospital), (AMBAC), 5.25%, 11/15/37	$	1,015,410
			$	1,015,410
Insured-Housing — 1.8%
$	1,100	Broward County Housing Finance Authority, Multifamily Housing, (Venice Homes Apartments), (FSA), (AMT), 5.70%, 1/1/32	$	1,107,546
			$	1,107,546
Insured-Other Revenue — 1.9%
$	1,150	Pembroke Pines Capital Improvement Revenue, (Forman Project), (AMBAC), 5.00%, 12/1/31	$	1,183,166
			$	1,183,166
Insured-Special Tax Revenue — 24.9%
$	985	Cape Coral, Special Obligation, (MBIA), 4.50%, 10/1/36	$	951,746
	4,410	Dade County, Special Obligation, (AMBAC), 5.00%, 10/1/35⁽³⁾		4,429,316
	2,100	Jacksonville, Sales Tax, (AMBAC), 5.00%, 10/1/30		2,136,855
	3,040	Miami-Dade County, Special Obligation, (MBIA), 0.00%, 10/1/35		729,843
	5,000	Miami-Dade County, Special Obligation, (MBIA), 0.00%, 10/1/38		1,019,200
	5,610	Miami-Dade County, Special Obligation, (MBIA), 0.00%, 10/1/40		1,026,911
	1,395	Miami-Dade County, Special Obligation, (MBIA), 5.00%, 10/1/37		1,409,759
	14,850	Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54		1,352,835
	2,535	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44		390,035

Principal Amount (000's omitted)		Security	Value
Insured-Special Tax Revenue (continued)
$	5,030	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45	$	734,581
	3,165	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46		438,226
	1,000	Sumter Landing Community Development District, (Recreational Revenue), (MBIA), 4.75%, 10/1/35		1,004,940
			$	15,624,247
Insured-Transportation — 33.4%
$	2,995	Florida Mid-Bay Bridge Authority, (AMBAC), 4.625%, 10/1/32	$	2,957,772
	2,250	Florida Ports Financing Commission, (FGIC), (AMT), 5.50%, 10/1/29		2,313,630
	4,500	Greater Orlando Aviation Authority, (FGIC), (AMT), 5.25%, 10/1/18⁽³⁾		4,607,280
	2,000	Hillsborough County Port District, (Tampa Port Authority Project), (MBIA), (AMT), 5.00%, 6/1/36		2,009,080
	500	Lee County Airport, (FSA), (AMT), 5.75%, 10/1/25		524,725
	650	Lee County Airport, (FSA), (AMT), 6.00%, 10/1/29		687,876
	120	Miami-Dade County, Aviation Revenue, (Miami International Airport), (AGC), (CIFG), (AMT), 5.00%, 10/1/38		118,505
	3,975	Miami-Dade County, Aviation Revenue, (Miami International Airport), (AGC), (CIFG), (AMT), 5.00%, 10/1/38⁽³⁾		3,990,066
	750	Palm Beach County Airport System, (MBIA), (AMT), 5.00%, 10/1/34		751,808
	3,000	Palm Beach County Airport System, (MBIA), (AMT), 5.00%, 10/1/34⁽³⁾		3,007,230
			$	20,967,972
Insured-Water and Sewer — 22.7%
$	1,000	Emerald Coast, Utility Authority Revenue, (FGIC), 4.75%, 1/1/31	$	1,008,310
	2,000	Marco Island, Utility System, (MBIA), 5.00%, 10/1/33⁽⁴⁾		2,054,320
	1,500	Miami Beach, Storm Water, (FGIC), 5.375%, 9/1/30		1,567,695
	1,000	Okeechobee Utility Authority, (FSA), 5.00%, 10/1/25		1,028,570
	2,500	Port St. Lucie, Utility System Revenue, (MBIA), 0.00%, 9/1/32		699,900
	2,415	Port St. Lucie, Utility System Revenue, (MBIA), 0.00%, 9/1/33		642,849
	4,000	Sunrise Utility System, (AMBAC), 5.00%, 10/1/28		4,192,560
	1,156	Tampa Bay Water Utility System, (FGIC), 4.75%, 10/1/27⁽³⁾		1,162,440
	1,844	Tampa Bay Water Utility System, (FGIC), Prerefunded to 10/1/08, 4.75%, 10/1/27⁽³⁾		1,882,784
			$	14,239,428

See notes to financial statements
15

Eaton Vance Florida Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS CONT'D

Principal Amount (000's omitted)		Security	Value
Nursing Home — 1.6%
$	265	Orange County Health Facilities Authority, (Westminster Community Care), 6.60%, 4/1/24	$	270,732
	735	Orange County Health Facilities Authority, (Westminster Community Care), 6.75%, 4/1/34		752,206
			$	1,022,938
Special Tax Revenue — 16.1%
$	90	Covington Park Community Development District, (Capital Improvements), 5.00%, 5/1/21	$	91,502
	500	Covington Park Community Development District, (Capital Improvements), 5.00%, 5/1/31		492,515
	265	Dupree Lakes Community Development District, 5.00%, 11/1/10		264,576
	205	Dupree Lakes Community Development District, 5.00%, 5/1/12		193,678
	360	Dupree Lakes Community Development District, 5.375%, 5/1/37		304,891
	315	Heritage Harbor South Community Development District, (Capital Improvements), 6.20%, 5/1/35		330,318
	240	Heritage Springs Community Development District, 5.25%, 5/1/26		231,079
	720	Heritage Springs Community Development District, 6.75%, 5/1/21		725,472
	340	New River Community Development District, (Capital Improvements), 5.00%, 5/1/13		314,728
	140	New River Community Development District, (Capital Improvements), 5.35%, 5/1/38		114,731
	350	North Springs Improvement District, (Heron Bay), 5.20%, 5/1/27		269,073
	625	North Springs Improvement District, (Heron Bay), 7.00%, 5/1/19		629,969
	985	River Hall Community Development District, (Capital Improvements), 5.45%, 5/1/36		823,450
	485	Southern Hills Plantation I Community Development District, 5.80%, 5/1/35		449,644
	600	Sterling Hill Community Development District, 6.20%, 5/1/35		615,744
	500	Stoneybrook West Community Development District, 7.00%, 5/1/32		520,725
	1,000	Tisons Landing Community Development District, 5.625%, 5/1/37		845,210
	780	University Square Community Development District, 6.75%, 5/1/20		804,219
	700	Waterlefe Community Development District, 6.95%, 5/1/31		742,518
	175	West Palm Beach Community Redevelopment Agency, (Northwood Pleasant Community), 5.00%, 3/1/29		165,883
	1,270	West Palm Beach Community Redevelopment Agency, (Northwood Pleasant Community), 5.00%, 3/1/35		1,183,297
			$	10,113,222

	Value
Total Tax-Exempt Investments — 175.0% (identified cost $107,463,895)	$	109,843,148
Other Assets, Less Liabilities — (18.4)%	$	(11,577,861	)
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (56.6)%	$	(35,508,272	)
Net Assets Applicable to Common Shares — 100.0%	$	62,757,015

AGC - Assured Guaranty Corp.

AMBAC - AMBAC Financial Group, Inc.

AMT - Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.

CIFG - CIFG Assurance North America, Inc.

FGIC - Financial Guaranty Insurance Company

FSA - Financial Security Assurance, Inc.

MBIA - Municipal Bond Insurance Association

The Trust invests primarily in debt securities issued by Florida municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at November 30, 2007, 65.8% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 3.3% to 23.6% of total investments.

⁽¹⁾Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2007, the aggregate value of the securities is $2,396,820 or 3.8% of the Trust's net assets applicable to common shares.

⁽²⁾Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at November 30, 2007.

⁽³⁾Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Trust.

⁽⁴⁾Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts.

See notes to financial statements
16

Eaton Vance Massachusetts Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS

Tax-Exempt Investments — 157.8%
Principal Amount (000's omitted)		Security	Value
Education — 18.7%
$	2,790	Massachusetts Development Finance Agency, (Boston University), Series P, 5.45%, 5/15/59	$	2,813,380
	600	Massachusetts Development Finance Agency, (Middlesex School), 5.00%, 9/1/33		607,278
	500	Massachusetts Development Finance Agency, (Mount Holyoke College), 5.25%, 7/1/31		520,670
	1,500	Massachusetts Development Finance Agency, (Wheeler School), 6.50%, 12/1/29		1,546,845
	1,000	Massachusetts Development Finance Agency, (Xaverian Brothers High School), 5.65%, 7/1/29		1,009,910
	1,000	Massachusetts Health and Educational Facilities Authority, (Boston College), 5.125%, 6/1/33		1,034,940
			$	7,533,023
Electric Utilities — 9.8%
$	1,000	Massachusetts Development Finance Agency, (Devens Electric System), 6.00%, 12/1/30	$	1,054,160
	1,870	Massachusetts Development Finance Agency, (Dominion Energy Brayton Point), (AMT), 5.00%, 2/1/36		1,783,008
	275	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 7.36%, 7/1/25⁽¹⁾⁽²⁾		284,677
	825	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 7.36%, 7/1/37⁽¹⁾⁽²⁾		819,208
			$	3,941,053
Escrowed / Prerefunded — 7.0%
$	500	Massachusetts Development Finance Agency, (Massachusetts College of Pharmacy), Prerefunded to 7/1/13, 5.75%, 7/1/33	$	564,130
	400	Massachusetts Development Finance Agency, (Western New England College), Prerefunded to 12/1/12, 6.125%, 12/1/32		454,024
	235	Massachusetts Health and Educational Facilities Authority, (Healthcare System-Covenant Health), Prerefunded to 1/1/12, 6.00%, 7/1/31		260,878
	980	Massachusetts Health and Educational Facilities Authority, (Winchester Hospital), Prerefunded to 7/1/10, 6.75%, 7/1/30		1,061,536
	1,000	Rail Connections, Inc., (Route 128 Parking), (ACA), Prerefunded to 7/1/09, 6.53%, 7/1/20		476,580
			$	2,817,148

Principal Amount (000's omitted)		Security	Value
Health Care-Miscellaneous — 3.2%
$	510	Massachusetts Development Finance Agency, (MCHSP Human Services), 6.60%, 8/15/29	$	499,861
	700	Massachusetts Health and Educational Facilities Authority, (Learning Center for Deaf Children), 6.125%, 7/1/29		708,358
	100	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), Series A, 6.50%, 10/1/37		101,147
			$	1,309,366
Hospital — 17.6%
$	1,000	Massachusetts Development Finance Agency, (Biomedical Research Corp.), 6.25%, 8/1/20	$	1,064,440
	1,000	Massachusetts Health and Educational Facilities Authority, (Baystate Medical Center), 5.75%, 7/1/33		1,031,800
	400	Massachusetts Health and Educational Facilities Authority, (Berkshire Health System), 6.25%, 10/1/31		418,184
	105	Massachusetts Health and Educational Facilities Authority, (Central New England Health Systems), 6.30%, 8/1/18		105,188
	865	Massachusetts Health and Educational Facilities Authority, (Healthcare System-Covenant Health), 6.00%, 7/1/31		906,252
	680	Massachusetts Health and Educational Facilities Authority, (Partners Healthcare Systems), 5.00%, 7/1/29		690,064
	820	Massachusetts Health and Educational Facilities Authority, (Partners Healthcare Systems), 5.00%, 7/1/32		826,486
	2,000	Massachusetts Health and Educational Facilities Authority, (South Shore Hospital), 5.75%, 7/1/29		2,043,140
			$	7,085,554
Housing — 13.6%
$	2,100	Massachusetts Housing Finance Agency, 4.75%, 12/1/48	$	1,920,618
	1,000	Massachusetts Housing Finance Agency, (AMT), 4.85%, 6/1/40		944,030
	650	Massachusetts Housing Finance Agency, (AMT), 5.00%, 12/1/28		646,236
	2,000	Massachusetts Housing Finance Agency, (AMT), 5.10%, 12/1/37		1,983,300
			$	5,494,184
Industrial Development Revenue — 1.7%
$	695	Massachusetts Industrial Finance Agency, (American Hingham Water Co.), (AMT), 6.60%, 12/1/15	$	696,390
			$	696,390
Insured-Education — 16.1%
$	1,000	Massachusetts College Building Authority, (XLCA), 5.50%, 5/1/39	$	1,151,490
	1,000	Massachusetts Development Finance Agency, (Boston University), (XLCA), 5.375%, 5/15/39		1,091,170

See notes to financial statements
17

Eaton Vance Massachusetts Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS CONT'D

Principal Amount (000's omitted)		Security	Value
Insured-Education (continued)
$	1,365	Massachusetts Development Finance Agency, (College of the Holy Cross), (AMBAC), 5.25%, 9/1/32⁽³⁾	$	1,544,379
	1,600	Massachusetts Development Finance Agency, (Franklin W. Olin College), (XLCA), 5.25%, 7/1/33		1,664,640
	1,000	Massachusetts Health and Educational Facilities Authority, (Northeastern University), (MBIA), 5.00%, 10/1/29		1,026,420
			$	6,478,099
Insured-Escrowed / Prerefunded — 3.3%
$	500	Massachusetts Health and Educational Facilities Authority, (UMass-Worcester Campus), (FGIC), Prerefunded to 10/1/11, 5.25%, 10/1/31	$	535,305
	750	Puerto Rico Electric Power Authority, (FSA), Prerefunded to 7/1/10, 5.25%, 7/1/29		795,045
			$	1,330,350
Insured-General Obligations — 9.3%
$	2,390	Milford, (FSA), 4.25%, 12/15/46	$	2,179,800
	500	Plymouth, (MBIA), 5.25%, 10/15/20		526,905
	900	Puerto Rico, (FSA), Variable Rate, 8.409%, 7/1/27⁽¹⁾⁽²⁾		1,061,082
			$	3,767,787
Insured-Miscellaneous — 5.1%
$	2,000	Boston Convention Center, (AMBAC), 5.00%, 5/1/27	$	2,046,440
			$	2,046,440
Insured-Other Revenue — 3.7%
$	1,250	Massachusetts Development Finance Agency, (WGBH Educational Foundation), (AMBAC), 5.75%, 1/1/42	$	1,503,525
			$	1,503,525
Insured-Special Tax Revenue — 8.2%
$	1,500	Martha's Vineyard Land Bank, (AMBAC), 5.00%, 5/1/32	$	1,539,870
	8,945	Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54		814,890
	1,520	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44		233,867
	3,015	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45		440,311
	1,905	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46		263,766
			$	3,292,704
Insured-Student Loan — 2.8%
$	1,175	Massachusetts Educational Financing Authority, (AMBAC), (AMT), 4.70%, 1/1/33	$	1,125,204
			$	1,125,204

Principal Amount (000's omitted)		Security	Value
Insured-Transportation — 15.0%
$	800	Massachusetts Port Authority, (Bosfuel Project), (FGIC), (AMT), 5.00%, 7/1/32	$	806,640
	2,000	Massachusetts Port Authority, (Bosfuel Project), (FGIC), (AMT), 5.00%, 7/1/38		2,008,980
	3,200	Massachusetts Turnpike Authority, Metropolitan Highway System, (MBIA), 5.00%, 1/1/37⁽³⁾		3,219,861
	33	Massachusetts Turnpike Authority, Metropolitan Highway System, (MBIA), Variable Rate, 7.026%, 1/1/37⁽¹⁾⁽²⁾		33,954
			$	6,069,435
Nursing Home — 2.8%
$	500	Boston Industrial Development Authority, (Alzheimer's Center), (FHA), 6.00%, 2/1/37	$	510,725
	600	Massachusetts Health and Educational Facilities Authority, (Christopher House), 6.875%, 1/1/29		607,164
			$	1,117,889
Senior Living / Life Care — 5.6%
$	1,500	Massachusetts Development Finance Agency, (Berkshire Retirement), 5.625%, 7/1/29	$	1,504,260
	100	Massachusetts Development Finance Agency, (First Mortgage VOA Concord), 5.125%, 11/1/27		90,658
	100	Massachusetts Development Finance Agency, (First Mortgage VOA Concord), 5.20%, 11/1/41		87,035
	300	Massachusetts Development Finance Agency, (Linden Ponds, Inc.), 5.75%, 11/15/35		288,705
	310	Massachusetts Development Finance Agency, (Linden Ponds, Inc.), 5.75%, 11/15/42		296,100
			$	2,266,758
Special Tax Revenue — 7.3%
$	7,195	Massachusetts Bay Transportation Authority, 0.00%, 7/1/34	$	1,917,611
	1,000	Puerto Rico Sales Tax Financing, 5.25%, 8/1/57		1,013,170
			$	2,930,781
Water and Sewer — 7.0%
$	100	Massachusetts Water Pollution Abatement Trust, 5.00%, 8/1/32	$	102,953
	965	Massachusetts Water Pollution Abatement Trust, 5.375%, 8/1/27		996,305
	2,000	Massachusetts Water Resources Authority, 4.00%, 8/1/46		1,746,640
			$	2,845,898

See notes to financial statements
18

Eaton Vance Massachusetts Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS CONT'D

	Value
Total Tax-Exempt Investments — 157.8% (identified cost $62,536,249)	$	63,651,588
Other Assets, Less Liabilities — (4.5)%	$	(1,800,128	)
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (53.3)%	$	(21,510,017	)
Net Assets Applicable to Common Shares — 100.0%	$	40,341,443

ACA - ACA Financial Guaranty Corporation

AMBAC - AMBAC Financial Group, Inc.

AMT - Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.

DRIVERS - Derivative Inverse Tax-Exempt Receipts

FGIC - Financial Guaranty Insurance Company

FHA - Federal Housing Administration

FSA - Financial Security Assurance, Inc.

MBIA - Municipal Bond Insurance Association

XLCA - XL Capital Assurance, Inc.

The Trust invests primarily in debt securities issued by Massachusetts municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at November 30, 2007, 40.2% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 5.3% to 13.5% of total investments.

⁽¹⁾Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2007, the aggregate value of the securities is $2,198,921 or 5.5% of the Trust's net assets applicable to common shares.

⁽²⁾Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at November 30, 2007.

⁽³⁾Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Trust.

See notes to financial statements
19

Eaton Vance Michigan Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS

Tax-Exempt Investments — 160.5%
Principal Amount (000's omitted)		Security	Value
Education — 6.0%
$	1,250	Michigan Higher Education Facilities Authority, (Creative Studies), 5.90%, 12/1/27	$	1,294,912
	540	Michigan Higher Education Facilities Authority, (Hillsdale College), 5.00%, 3/1/35		541,107
			$	1,836,019
Electric Utilities — 9.1%
$	1,250	Michigan Strategic Fund, (Detroit Edison Pollution Control), 5.45%, 9/1/29	$	1,276,387
	375	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 7.36%, 7/1/25⁽¹⁾⁽²⁾		388,196
	1,125	Puerto Rico Electric Power Authority, DRIVERS, Variable Rate, 7.36%, 7/1/37⁽¹⁾⁽²⁾		1,117,102
			$	2,781,685
Escrowed / Prerefunded — 10.6%
$	500	Kent Hospital Finance Authority, (Spectrum Health), Prerefunded to 7/15/11, 5.50%, 1/15/31	$	541,625
	750	Michigan Hospital Finance Authority, (Ascension Health Care), Prerefunded to 11/15/09, 6.125%, 11/15/26		796,665
	750	Michigan Hospital Finance Authority, (Sparrow Obligation Group), Prerefunded to 11/15/11, 5.625%, 11/15/36		818,010
	1,000	Puerto Rico Electric Power Authority, Prerefunded to 7/1/12, 5.25%, 7/1/31		1,095,190
			$	3,251,490
General Obligations — 10.8%
$	500	East Grand Rapids Public School District, 5.00%, 5/1/25	$	516,945
	1,000	Manistee Area Public Schools, 5.00%, 5/1/24		1,033,890
	750	Puerto Rico Public Buildings Authority, Commonwealth Guaranteed, 5.25%, 7/1/29		758,490
	1,000	White Cloud Public Schools, Prerefunded to 5/1/11, 5.125%, 5/1/31		1,024,250
			$	3,333,575
Health Care-Miscellaneous — 0.3%
$	100	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), Series A, 6.50%, 10/1/37	$	101,147
			$	101,147

Principal Amount (000's omitted)		Security	Value
Hospital — 28.4%
$	500	Allegan Hospital Finance Authority, (Allegan General Hospital), 7.00%, 11/15/21	$	520,945
	185	Gaylord Hospital Finance Authority, (Otsego Memorial Hospital Association), 6.20%, 1/1/25		187,418
	125	Gaylord Hospital Finance Authority, (Otsego Memorial Hospital Association), 6.50%, 1/1/37		127,905
	560	Macomb County Hospital Finance Authority, (Mount Clemens General Hospital), 5.875%, 11/15/34		545,580
	500	Mecosta County, (Michigan General Hospital), 6.00%, 5/15/18		509,400
	1,000	Michigan Hospital Finance Authority, (Central Michigan Community Hospital), 6.25%, 10/1/27		1,007,780
	750	Michigan Hospital Finance Authority, (Henry Ford Health System), 5.00%, 11/15/38		738,487
	1,000	Michigan Hospital Finance Authority, (Henry Ford Health System), 5.25%, 11/15/46		1,006,940
	1,430	Michigan Hospital Finance Authority, (McLaren Healthcare), 5.00%, 8/1/35		1,412,997
	750	Michigan Hospital Finance Authority, (Memorial Healthcare Center), 5.875%, 11/15/21		770,227
	1,000	Michigan Hospital Finance Authority, (Trinity Health), 6.00%, 12/1/27		1,060,420
	800	Saginaw Hospital Finance Authority, (Covenant Medical Center), 6.50%, 7/1/30		850,680
			$	8,738,779
Housing — 3.1%
$	1,000	Michigan State Housing Development Authority, (Williams Pavilion), (AMT), 4.90%, 4/20/48	$	944,690
			$	944,690
Industrial Development Revenue — 7.7%
$	1,000	Detroit Local Development Finance Authority, (Chrysler Corp.), 5.375%, 5/1/21	$	934,590
	800	Dickinson County Electronic Development Corp., (International Paper Co.), 5.75%, 6/1/16		827,992
	625	Puerto Rico Port Authority, (American Airlines), (AMT), 6.25%, 6/1/26		604,088
			$	2,366,670
Insured-Electric Utilities — 9.0%
$	1,000	Michigan Strategic Fund Resource Recovery, (Detroit Edison Co.), (MBIA), (AMT), 5.55%, 9/1/29	$	1,028,960
	500	Michigan Strategic Fund Resource Recovery, (Detroit Edison Co.), (XLCA), 5.25%, 12/15/32		512,545
	1,200	Puerto Rico Electric Power Authority, (MBIA), 4.75%, 7/1/33⁽³⁾		1,212,564
			$	2,754,069

See notes to financial statements
20

Eaton Vance Michigan Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS CONT'D

Principal Amount (000's omitted)		Security	Value
Insured-Escrowed / Prerefunded — 20.4%
$	1,000	Central Montcalm Public Schools, (MBIA), Prerefunded to 5/1/09, 6.00%, 5/1/29	$	1,037,750
	1,000	Detroit Sewer Disposal, (FGIC), Prerefunded to 7/1/11, 5.125%, 7/1/31		1,062,780
	2,000	Fenton Area Public Schools, (FGIC), Prerefunded to 5/1/08, 5.00%, 5/1/24		2,013,660
	2,000	Novi Building Authority, (FSA), Prerefunded to 10/1/10, 5.50%, 10/1/25		2,139,420
			$	6,253,610
Insured-General Obligations — 8.2%
$	650	Detroit, School District, (FGIC), 4.75%, 5/1/28	$	653,543
	750	Detroit, School District, (FSA), 5.25%, 5/1/32		847,838
	200	Eaton Rapids Public Schools, (MBIA), 4.75%, 5/1/25		201,042
	700	Puerto Rico, (FSA), Variable Rate, 8.409%, 7/1/27⁽¹⁾⁽²⁾		825,286
			$	2,527,709
Insured-Hospital — 6.7%
$	1,000	Royal Oak Hospital Finance Authority Revenue, (William Beaumont Hospital), (MBIA), 5.25%, 11/15/35	$	1,018,010
	1,000	Saginaw Hospital Finance Authority, (Covenant Medical Center), (MBIA), 5.50%, 7/1/24		1,032,180
			$	2,050,190
Insured-Lease Revenue / Certificates of Participation — 4.3%
$	4,300	Michigan State Building Authority, (FGIC), 0.00%, 10/15/30	$	1,320,014
			$	1,320,014
Insured-Special Tax Revenue — 11.5%
$	5,160	Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54	$	470,076
	1,225	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44		188,479
	2,430	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45		354,877
	1,470	Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46		203,536
	2,250	Wayne Charter County, (Airport Hotel-Detroit Metropolitan Airport), (MBIA), 5.00%, 12/1/30		2,317,455
			$	3,534,423
Insured-Student Loan — 6.6%
$	1,000	Michigan Higher Education Student Loan Authority, (AMBAC), (AMT), 5.00%, 3/1/31	$	1,006,270
	1,000	Michigan Higher Education Student Loan Authority, (AMBAC), (AMT), 5.50%, 6/1/25		1,022,720
			$	2,028,990

Principal Amount (000's omitted)		Security	Value
Insured-Transportation — 3.3%
$	1,000	Wayne Charter County Airport, (MBIA), (AMT), 5.00%, 12/1/28	$	1,003,590
			$	1,003,590
Insured-Water and Sewer — 5.5%
$	1,650	Detroit Water Supply System, (FGIC), 5.00%, 7/1/30	$	1,678,347
			$	1,678,347
Lease Revenue / Certificates of Participation — 0.8%
$	250	Puerto Rico, (Guaynabo Municipal Government Center Lease), 5.625%, 7/1/22	$	251,203
			$	251,203
Other Revenue — 3.3%
$	12,500	Michigan Tobacco Settlement Finance Authority, 0.00%, 6/1/52	$	536,750
	500	Michigan Tobacco Settlement Finance Authority, 6.00%, 6/1/48		487,035
			$	1,023,785
Transportation — 4.9%
$	1,500	Kent County Airport Facility, 5.00%, 1/1/25⁽³⁾	$	1,513,673
			$	1,513,673
Total Tax-Exempt Investments — 160.5% (identified cost $47,817,304)			$	49,293,658
Other Assets, Less Liabilities — (3.5)%			$	(1,079,283	)
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (57.0)%			$	(17,504,030	)
Net Assets Applicable to Common Shares — 100.0%			$	30,710,345

AMBAC - AMBAC Financial Group, Inc.

AMT - Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.

DRIVERS - Derivative Inverse Tax-Exempt Receipts

FGIC - Financial Guaranty Insurance Company

FSA - Financial Security Assurance, Inc.

MBIA - Municipal Bond Insurance Association

XLCA - XL Capital Assurance, Inc.

See notes to financial statements
21

Eaton Vance Michigan Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS CONT'D

The Trust invests primarily in debt securities issued by Michigan municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at November 30, 2007, 47.0% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 1.0% to 19.5% of total investments.

⁽¹⁾ Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2007, the aggregate value of the securities is $2,330,584 or 7.6% of the Trust's net assets applicable to common shares.

⁽²⁾ Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at November 30, 2007.

⁽³⁾ Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Trust.

See notes to financial statements
22

Eaton Vance New Jersey Municipal Income Trust as of November 30, 2007

PORTFOLIO OF INVESTMENTS

Tax-Exempt Investments — 172.2%
Principal Amount (000's omitted)		Security	Value
Education — 5.5%
$	250	New Jersey Educational Facilities Authority, (Georgian Court University), 5.00%, 7/1/27	$	247,372
	250	New Jersey Educational Facilities Authority, (Georgian Court University), 5.00%, 7/1/33		240,225
	220	New Jersey Educational Facilities Authority, (Georgian Court University), 5.25%, 7/1/37		218,354
	3,055	New Jersey Educational Facilities Authority, (Princeton University), 4.50%, 7/1/30		3,058,422
			$	3,764,373
Electric Utilities — 2.2%
$	1,500	Salem County Pollution Control Financing, (Public Service Enterprise Group, Inc.), (AMT), 5.75%, 4/1/31	$	1,508,160
			$	1,508,160
Escrowed / Prerefunded — 12.5%
$	3,935	New Jersey Educational Facilities Authority, (Princeton University), Prerefunded to 7/1/10, 5.00%, 7/1/20	$	4,059,425
	460	New Jersey Health Care Facilities Financing Authority, (Atlantic City Medical Center), Prerefunded to 7/1/12, 5.75%, 7/1/25		507,688
	950	Tobacco Settlement Financing Corp., Prerefunded to 6/1/13, 6.75%, 6/1/39		1,109,381
	2,500	Tobacco Settlement Financing Corp., Prerefunded to 6/1/13, 6.75%, 6/1/39⁽¹⁾		2,919,425
			$	8,595,919
General Obligations — 5.1%
$	3,500	Puerto Rico Public Buildings Authority, Commonwealth Guaranteed, 5.25%, 7/1/29	$	3,539,620
			$	3,539,620
Health Care-Miscellaneous — 0.4%
$	300	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus Project), Series A, 6.50%, 10/1/37	$	303,441
			$	303,441
Hospital — 28.4%
$	100	Camden County Improvement Authority, (Cooper Health System), 5.00%, 2/15/25	$	97,903
	90	Camden County Improvement Authority, (Cooper Health System), 5.00%, 2/15/35		84,951

Principal Amount (000's omitted)		Security	Value
Hospital (continued)
$	100	Camden County Improvement Authority, (Cooper Health System), 5.25%, 2/15/27	$	99,812
	2,750	Camden County Improvement Authority, (Cooper Health System), 5.75%, 2/15/34		2,813,387
	575	New Jersey Health Care Facilities Financing Authority, (Atlantic City Medical Center), 5.75%, 7/1/25		599,742
	4,400	New Jersey Health Care Facilities Financing Authority, (Atlanticare Regional Medical Center), 5.00%, 7/1/37		4,401,452
	2,140	New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.25%, 7/1/27		2,141,027
	1,765	New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.375%, 7/1/33		1,750,368
	2,000	New Jersey Health Care Facilities Financing Authority, (Hackensack University Medical Center), 6.00%, 1/1/34		2,060,900
	450	New Jersey Health Care Facilities Financing Authority, (Hunterdon Medical Center), 5.125%, 7/1/35		452,619
	2,000	New Jersey Health Care Facilities Financing Authority, (Robert Wood Johnson University Hospital), 5.75%, 7/1/31		2,069,940
	1,100	New Jersey Health Care Facilities Financing Authority, (South Jersey Hospital), 5.00%, 7/1/36		1,104,147
	1,930	New Jersey Health Care Facilities Financing Authority, (South Jersey Hospital), 5.00%, 7/1/46		1,921,392