An Act To Allow a Municipality To Opt Out of Collecting Personal Property and Business Equipment Taxes

Sec. 1. 36 MRSA §614  is enacted to read:

§ 614.  Municipal option to exempt all personal property from taxation

Notwithstanding the provisions of this subchapter or any other provision of law to the contrary, by referendum vote conducted in accordance with the provisions of the municipality's charter or Title 30-A, section 2528 or 2532, even if the municipality has not accepted the provisions of Title 30-A, section 2528, a municipality may adopt an ordinance to exempt personal property from municipal assessment and collection of tax. The exemption must be uniform in application and include all personal property including business equipment. A referendum to remove the exemption on the assessment and collection of tax on personal property must be conducted in the same manner as the referendum exempting personal property from assessment and collection of tax and must comply with the provisions of this chapter.

summary

This bill allows a municipality, by referendum, to exempt all personal property, including business equipment, located in that municipality from assessment and collection of tax by that municipality.