The applications for the Business Equipment Tax Reimbursement (BETR) Program are now available to any eligible business. This program reimburses you for 100% of personal property taxes paid for the first 12 years!
WHAT IS IT?
The Business Equipment Tax Reimbursement (BETR) Program reimburses eligible businesses for Personal Property Taxes paid in 2023 on eligible items.
WHO QUALIFIES?
Eligible businesses who paid Personal Property Taxes on eligible computers, machinery, or equipment first assessed from 1996 through 2023, in the calendar year of 2023. Examples of eligible businesses are Retail Stores, Grocery Stores, and Restaurants. The items must not have been eligible for the Business Tax Equipment Exemption Program (BETE), which is available to non-retail businesses. Items eligible for BETE were first subject to assessment April 2008.
HOW MUCH IS THE REIMBURSEMENT?
The reimbursement is for 100% of personal property taxes paid on eligible items for the first 12 years. After 12 years, the reimbursement for eligible items starts at 75% and reduces by 5% until the reimbursement is 50%.
HOW DO I APPLY?
Applications are available on the Maine Revenue Services website here.
Applications are due December 31, 2024
APPLICATIONS MUST:
• Include all completed applicable forms including the 800, 801A and/or 801B, a copy of the tax bill and proof of payment.
• Be submitted to the Assessor prior to submitting to Maine Revenue.
NEED HELP?
We can help! Just ask! Contact the Assessor’s Office at 207-594-0303 or by email at assessing@rocklandmaine.gov
