Personal Property/Business Equipment

Personal Property is business equipment that is “personal” to the business.  Each year, owners of personal property are requested to declare their lists of equipment to this office.  The taxable value of each item is its replacement cost less depreciation and is taxed using the same tax rate as applied to real estate.   

Personal Property/Business Equipment  list of owners & assessments
This 2013 list in excel format can be downloaded and sorted when searching for businesses located in Falmouth, developing mailing lists or researching assessed values.

Explanatory Letter
2013 Explanatory letter mailed with the 706 Personal Property Declaration form.

706 Personal Property Declaration Form
As required by Maine Property Tax Law, this form requesting the list of personal property is mailed annually to all personal property owners.

Depreciation Schedule
The deprecation schedule is applied to personal property according to each item’s age.  The schedule changes annually.

Personal Property/Business Equipment Law
Maine’s Personal Property law Title 36 M.R.S.A. §601~Personal property; defined and §706.~Taxpayers to list property, notice, penalty, verification.

801 BETR Forms and Guidelines
The Business Equipment Tax Reimbursement (BETR) form is submitted by the Taxpayer to Maine Revenue Service for personal property tax reimbursement.  The Taxpayer must submit the form to the Assessor for verification and signature after the personal property tax is paid.

BETE Application and Guidelines
As of April 1, 2008 the Business Equipment Tax Exemption Program (BETE) became law.  BETE applies only to eligible businesses and equipment first subject to taxation as of 4/1/08. Click on BETE Application and Guidelines link to see if you qualify.

Should your business/equipment qualify for the BETE exemption, you must include items listed in previous years as well as new items.  Items not on the BETE application will be taxed and will not be eligible for the Business Equipment Tax Exemption for that year.
Deadline to file the 2013 BETE application with the Assessor is April 11, 2013.