What is a personal property tax?
- Any assets owned and located in Maine for use in business are eligible for taxation, either by excise tax or property tax. For example:
- Machinery & Equipment: Presses, tools, machining equipment, garage equipment, heavy-duty shelving and other machinery or manufacturing equipment, telephones, vending machines, televisions, fax machines, copiers, office equipment, cargo trailers.
- Computer Equipment: Computers, monitors, servers, printers, smartphones
- Furniture and Fixtures: Desks, chairs, bookcases, filing cabinets, tables
Businesses are required to provide the assessor with a full and accurate listing of personal property assets located in that town as of April 1. To help businesses with this task, the assessor's office sends out what is called a "706 request" in early March every year. This is called a 706 request after the section in Maine Title 36 where it describes the assessor's need for a true and perfect list of assets to value. Previous year's personal property record cards are available upon request. The 706 request filing deadline is April 15th.
If your business is open as of April 1st, you are responsible for personal property taxes for the rest of that fiscal year.
If your business closes after April 1st, you are still responsible for personal for the remainder of that fiscal year.
Please find below the 706 request mailing for 2018:
- 2018 Personal Property Letter (PDF)
- 2018 Personal Property Instructions (PDF)
- 2018 Baldwin Personal Property Declaration (XLS)
- 2018 Casco Personal Property Declaration (XLS)
- 2018 Falmouth Personal Property Declaration (XLS)
- 2018 Gorham Personal Property Declaration (XLS)
- 2018 Yarmouth Personal Property Declaration (XLS)
Business Equipment Tax Exemption (BETE) Program
The BETE program is a 100% property tax exemption program for eligible personal property that would have been first subject to tax in Maine on or after 4/1/08. A new application must be filed with the assessor each year in order to be considered for the program. Please see the link below for more information concerning the BETE program.
- Additional BETE Information (XLS)
- Baldwin BETE Application (XLS)
- Casco BETE Application (XLS)
- Falmouth BETE Application (XLS)
- Gorham BETE Application (XLS)
- Yarmouth BETE Application (XLS)
Business Equipment Tax Reimbursement (BETR) Program
The BETR program is designed to encourage capital investment in Maine. The program reimburses taxpayers for local property taxes paid on most qualified business personal property. To qualify, qualified business personal property must have been first placed in service in Maine after April 1, 1995. Please see the link below for more information concerning the BETR program.