Repeal the Maine Personal Property Tax
|Sponsor:||Senator Andre Cushing, Senate 33 - York County|
|Bill #:||LD 1172|
Current law requires all personal property, including machinery, to be assessed and taxed in the same manner as other property but exempts from taxation individually owned personal property with a just value of less than $1,000, except for items used for industrial or commercial purposes and vehicles that are not subject to the excise tax.
This bill repeals the provisions of law requiring a tax to be imposed on personal property and specifies that all individually owned personal property is exempt from taxation.
This bill removes numerous references in the Maine Revised Statutes to the personal property tax.