Maine Statutes
§ 36 §692 — Exemption of business equipment
1.Eligible business equipment exempt.
Eligible business equipment is exempt from all taxation under this Part, except chapters 111 and 112.
2.Just value of exemption.
In determining the just value of exempt business equipment, the assessor shall determine the just value of the property in the same manner as prescribed in section 701‑A as if the property were subject to taxation.
3.Effect on state valuation.
The exemption has the following effect on state valuation.
4.Property tax rate.
The following percentages of the value of exempt business equipment must be included in the total municipal valuation used to determine the municipal tax rate for 2008 and subsequent tax years:
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Legislative History
PL 2005, c. 623, §1 (NEW). PL 2007, c. 438, §§22, 23 (AMD). PL 2007, c. 627, §24 (AMD).
Nearby Sections
15
§ 36 §6-A
Payments; refund or abatement§ 36 §601
Personal property; defined§ 36 §602
Where taxed§ 36 §603
Exceptions§ 36 §604
Mortgaged personal property; taxes§ 36 §605
Deceased persons§ 36 §606-2
Tax priority; deceased's personal property§ 36 §607
Insolvent person's personal property§ 36 §608
Blooded animals§ 36 §609
Sailing vessels and barges; tax rate§ 36 §610
Rebuilt vessels and barges; tax rate§ 36 §610-A
Watercraft assessed as personal property§ 36 §6101
Short title§ 36 §6102
Purpose