Personal Property Tax
What is a personal property tax?
M.R.S. Title 36 § 601. Personal Property; defined personal property for the purpose of taxation includes all tangible goods and chattels wheresoever they are and all vessels, at home or abroad.
Any assets owned or located in Biddeford for use in business are eligible for taxation by property tax; the tax rate is the same rate as applied to taxable real estate. 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
- Furniture & Fixture: Desks, chairs, bookcases, filing cabinets, tables
- Computer Equipment: Computers, monitors, servers, printers, smartphones
- Miscellaneous Personal Property: Trailers, cargo, bulk hauling, storage, office, law library, art work
Businesses are required to provide the Assessor with a true and perfect list of personal property assets located in Biddeford as of April 1st. Failure to file a true and perfect list of assets bars a taxpayer's right to appeal his or her valuation for that year, M.R.S. Title 36 § 706-A.
If your business is open as of April 1st, you are responsible for personal property taxes for the entire fiscal year. If a business does not exist as of April 1st; the taxpayer's failure to notify the Assessor's Office by May 1st will result in issuance of a tax bill.
- 1. Personal Property Declaration Form 706-A - Word file
- 2. Personal Property Schedule Form - Excel file with built-in depreciation schedule.
- 3. Personal Property Depreciation Schedule - pdf file
You may be eligible for tax exemption or reimbursement for taxes paid in qualifying business property.
Exemption & Reimbursement
The BETR program administered by the state, is available to business taxpayer for reimbursement of taxes paid on most qualified business personal property. To qualify, business personal property must have been first placed in service in Maine after April 1, 1995. Follow the link for further information and forms,
The BETE is a 100% property tax exemption program, administered by the state, for eligible personal property that were placed in service on or after April 1, 2007 for most businesses and certain retail sales property. Follow the link for further information and forms,