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.
This 2009 list in excel format can be downloaded and sorted when searching for businesses located in Falmouth, developing mailing lists or researching assessed values.
2009 explanatory letter mailed with the 706 Personal Property Declaration form.
This form requesting the list of personal property is mailed to all business owners annually as required by State law.
The deprecation schedule is applied to personal property according to each item’s age. The schedule changes annually.
Maine’s Personal Property law Title 36 M.R.S.A. §601~Personal property; defined and §706.~Taxpayers to list property, notice, penalty, verification.
This Business Equipment Tax Refund form is submitted by the business to the State’s Maine Revenue Services dept. for personal property tax reimbursement. The business must submit the form to the Assessor for verification and signature.
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