Personal Property

Personal Property

(Title 36, M.R.S. Sections 601-612)

The value of personal property of businesses - furniture, fixtures, machinery and equipment- that are pertinent to the conduct of that business are subject to valuation and taxation. The Assessor assesses these properties based on their ownership, condition, and location as of April 1.

Businesses are required to itemize and report all assets used in the operation of their business every year. Asset filings must be submitted to the Assessing Office no later than May 1st each year. Businesses can apply for a filing extension if they require more time. 

Some assets may be exempt but still need to be reported. These are reported separately on the BETE application form. Each year a business must reapply for the BETE exemption on all eligible items.

We send a packet in January/February to all known businesses that includes the forms below and a computer-generated asset listing based off the previous year's filing. By returning a complete and accurate list, the requirement to furnish the assessor with a "true and perfect list" is satisfied. We request that businesses utilize our forms but will accept any reasonable 706-A substitute forms.

We Will Accept Electronic Submissions!