2015 Personal Property Tax Return Form - City Of Waterville printable pdf download

2015 PERSONAL PROPERTY TAX RETURN

WATERVILLE, MAINE

The tax situs date in the State of Maine is April 1st. This Personal Property Tax Return is provided to assist all

owners of taxable personal property in complying with Title 36 Section 706, MRSA.

 What is taxable? ALL items are taxable unless specifically exempt by state law. In Maine, any and all

items of personal property employed in trade, business, manufacturing, or any income producing enterprise

(whether or not a profit is realized) are subject to the property tax. They may be located at home or at the

business location. Depreciation for accounting or Internal Revenue Service purposes is not a factor. An item

fully depreciated for accounting purposes must be reported and is subject to property tax.

Some examples of taxable personal property are desks, filing cabinets, computers and specialized software,

telephone systems, shelves, counters, music systems, and signs. Other examples are, air compressors,

manufacturing equipment, construction equipment (unless excised), video machines, ovens, refrigerators and

coolers, etc.. This listing is only a sample of taxable items.

 Note to Equipment Rental Businesses: Leased items are considered taxable unless they are held for the

purposes of resale. Any claim for exemption of these items must be accompanied by documentation proving

the items are indeed held for the purposes of resale and not for rental purposes. Exemption applications

must be received ON or BEFORE April 1st.

 How to file:

 Existing, New and recently Closed Businesses are required to complete and submit page three of this report

(Owner Information Section). Answer all applicable questions. See Instructions on page two.

 New Businesses and Existing Businesses with new equipment: Use page four to report items of personal

property not already on file You may indicate no changes, if you have not acquired or removed property.

 Existing Businesses: Use the enclosed personal property listing from the previous year. Indicate those items

that have been retired from the business. Simply cross out the item or correct the quantity.

 Leased Equipment is to be reported at the bottom of page four. Indicate the name of the equipment owner

(lessor), their address and telephone number, a description of the item(s), cost or fees for the lease, the lease

term and any purchase option information.

 Keep A Copy of the return for your records.

 Submit pages 3 & 4: Detach the returns from the instruction pages and submit only pages 3 & 4 to the

Assessor’s Office.

 Filing Deadline is April 15, 2015. Indicate on the return envelope “Personal Property Tax Return” and file

the completed forms at:

Office of the Assessor

Waterville City Hall

One Common Street

Waterville, Maine 04901-6699

 For Assistance contact the Assessor’s Office at (207) 680-4221 during normal business hours.

2015 Personal Property Tax Return Form - City Of Waterville