Maine § 36 §692 Exemption of business equipment

Maine Statutes

§ 36 §692 — Exemption of business equipment

Maine § 36 §692

Title 36TAXATION

Part 2PROPERTY TAXES

Ch. 105CITIES AND TOWNS

This text of Maine § 36 §692 (Exemption of business equipment) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 36, § 36 §692 (2026).

Text

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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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: