Business Personal Property Tax Information
Business Personal Property Tax Information
Business personal property is subject to taxation in the State of Maine in accordance with Title 36, M.R.S.A. §§ 601–612 and § 706-A. Businesses are required to report all taxable personal property located in Old Town as of April 1 each year.
Business personal property includes, but is not limited to, furniture, fixtures, computers, software, machinery, equipment, unregistered trailers, and other business assets. This information is used to determine a business’s personal property tax assessment.
Personal Property Declaration
To assist businesses with this requirement, the Assessing Office mails Personal Property Declaration forms to businesses each year in early March. Businesses are required to submit a true and complete list of all taxable personal property that was owned or in use as of April 1.
The completed declaration must be returned to the Assessing Office by May 1 each year.
Declarations and supporting documentation may be submitted by mail or email. Completed forms and asset lists may be emailed to abuchanan@old-town.org.
Failure to file a complete and timely declaration may result in the loss of appeal rights, as required by state law.
A copy of the prior year’s personal property record card may be provided upon request.
Assessment Date & Responsibility
Personal property is assessed as of April 1 each year. If your business owned taxable personal property located in Old Town on April 1, you are responsible for the taxes for that year — even if the business later moved, closed, or disposed of the property.
Businesses that are no longer operating or no longer located in Old Town are asked to notify the Assessing Office so records may be updated accordingly. Notifications may be sent to abuchanan@old-town.org.
Business Equipment Tax Programs (BETE & BETR)
The State of Maine offers two programs that may provide tax relief for qualifying business personal property:
Business Equipment Tax Exemption (BETE)
The BETE program provides a property tax exemption for certain qualifying business equipment placed in service after April 1, 2007. Retail sales businesses are generally excluded, although some retail services may qualify.
BETE applications must be filed with the Assessing Office by May 1 each year.
Business Equipment Tax Reimbursement (BETR)
The BETR program reimburses businesses for property taxes paid on qualifying equipment placed in service after April 1, 1995. Applications are based on taxes paid in the prior year.
BETR applications are submitted to the Assessing Office for certification and then filed with Maine Revenue Services. The state application period generally runs from August 1 through December 31.
Additional information on both programs is available through Maine Revenue Services.
Forms & Documents (see bottom of page for PDF files)
- Personal Property Declaration Form
- BETE Application
- BETE Guidance Maine Revenue Services
- BETR Forms & Instructions
- BETR Form 800
- Depreciation Table (coming soon)
Questions or Assistance
Business owners frequently have questions about what should be included on the declaration form or how to file. The Assessing Office is happy to assist with general questions.
Please contact the Assessing Office at abuchanan@old-town.org.