Link to 2014 Business Personal Property Declaration
Personal Property Declaration Form must be returned by April 30th annually.
Personal Property Taxes
State of Maine law provides for a tax on business personal property. The tax is assessed annually in accordance with the requirements set forth in Title 36 of the Maine Revised Statutes, sections 601 and706. "Personal Property" is tangible property located at the business, including manufacturing equipment, office furniture, store fixtures, telephone systems, computers, motel furnishings, heavy and light duty construction equipment. The tax rate is the same rate as applied to taxable real estate.
A Business Equipment Tax Reimbursement Program (BETR), administered by the State, is available to any business taxpayer placing qualified personal property into service after April 1, 1995 and before April 2, 2007. Certain retail personal property placed in service after April 1, 2007 may also qualify. The BETR qualification period has been expanded indefinitely beyond 12 years for each piece of eligible equipment, with the reimbursement rate further reduced annually until the rate is 50% for years beyond the 17th year of reimbursement.
The Business Equipment Tax Exemption Program (BETE) applies ONLY to certain non-retail business types and only for qualified equipment first subject to tax on or after April 1, 2008. Businesses continue to be required to itemize and report all non-exempt personal property used in the business in exactly the same manner as previous years with BETE qualified equipment reported separately.
BETE State Website: http://www.maine.gov/revenue/propertytax/propertytaxbenefits/bete.htm
BETR State Website: http://www.maine.gov/revenue/taxrelief/betr.htm
For additional information reference the BETR & BETE program documents below.
Links for Additional Information
State of Maine Exempt Application
BETE/BETR Question & Answer
BETE: State Retail Equipment Guidance
BETE/BETR State Tutorial