Business Personal Property
Notice About Business Personal Property Inspections:
Beginning the week of 5/24/21, representatives of Real Estate Research Consultants, Inc. (RRC) will be performing a revaluation of all business personal property in the Town as of April 1, 2021.
All representatives will carry property identification. Inspections will take place between May 24 and July 23. All new and existing businesses will be visited as part of a scheduled revaluation project, which includes a complete inspection of certain businesses to list all taxable personal property in accordance with M.R.S. 36 § 601.
The Assessing Agents and RRC will appreciate your cooperation in providing the representatives with access to your property and the information necessary to undertake the assignment. Please keep in mind that if your business is not inspected, an estimate will be made, resulting in a less reliable appraisal.
Please contact the assessing office at 207-698-1101 ext. 114 with questions.
Important Business Personal Property Tax Information
Maine law states that personal property is subject to taxation (see 36 M.R.S. §601). Personal (Business) Property is property including, but not limited to, manufacturing equipment, office furniture, phone and computer systems, store fixtures, store signs and leasehold improvements. Personal (Business) Property is typically not attached to the real estate and could be easily removed from the real estate if the business relocates.
Personal Property Assessment and Declarations
Each year, the Assessor sends business owners (taxpayers) “personal property declarations” and requests a business inventory list for April 1 of the current year. Per 36 M.R.S. § 706-A, failure to respond to the Assessor’s request bars the taxpayer of the right to appeal the property tax assessment.
If you are a business owner please return the declaration by April 15 of the current year, for items owned by you in the Town of Berwick as of April 1. Please contact our office at 698-1101 ext 114. or at firstname.lastname@example.org if you have questions or cannot meet the deadline.
Personal Property Declaration
Blank Declaration Sheets (to list items)
Guide to Taxable Personal (Business) Property
Property Tax Relief
The State of Maine offers two tax relief programs for personal property:
BETE (Business Equipment Tax Exemption, "Betty") - The BETE program requires an application to be filed with the Assessor no later than May 1 each year. Only certain types of businesses and business equipment first subject to taxation in Maine on or after April 1, 2008 can qualify for BETE. Examples of businesses that could qualify include: manufacturing facilities, leasing companies and medical service providers. Retail stores and equipment located at retail stores do not qualify for BETE, but may qualify for BETR.
BETR (Business Equipment Tax Reimbursement, "Better") - The BETR program requires an application to the State, and requires the taxpayer to provide proof that property taxes were paid for the calendar year of the application. The BETR application should be signed by the Assessor and submitted to the State by December 31 each year. Only equipment purchased after April 1, 1995 would be eligible for BETR.