Business Personal Property is subject to taxation in Maine; the full requirements of the law can be found in 36 MRSA Sec. 601-612 and Sec. 706. Each year, business owners must furnish a list of items used in their business as of April 1. To assist businesses with this requirement, the Assessor's Office mails a declaration form and a property record card showing items declared in previous years each spring (generally around April 1).
Business owners often have questions about what should be included on the declaration form. Please call our office if you have any questions.
Business Equipment Tax Reimbursement (BETR) & Business Equipment Tax Exemption (BETE)
The State of Maine provides a property tax exemption for certain items of business personal property (the Business Equipment Tax Exemption program). There is also a Business Equipment Tax Reimbursement program, which will reimburse businesses for taxes paid on certain items of business personal property. The application for the BETR (reimbursement) program is available in August of each year, for reimbursement of taxes paid between January 1 and December 31 of the prior year.
For more information please visit the Maine Revenue Services webpage at the links below.