Personal Property Relief Programs
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. Property in the possession of the taxpayer on April 1st is subject to personal property tax even if it has been depleted for income tax purposes. The State of Maine has two state funded Personal Property Tax relief programs, BETR and BETE, that your business may qualify for.