By Penny Thompson
City of Caribou Tax Assessor
As you gather up paperwork to work on personal income taxes for 2014, don’t forget about another important tax deadline: April 1st. In all communities in Maine, April 1 of each year is “Tax Situs Day,” which is the State of Maine’s way of saying that the tax assessor in your community will assess the value of your property based on how the property was situated on April 1.
The good news is if you start building something on April 2 (don’t forget to get a building permit) and enjoy it all year — it won’t be assessed until the following year! The bad news is that if you finally tear down that old potato house on April 2 (don’t forget to get a demolition permit) — you will be assessed as if it was there all year.
If you have questions about your property value and the information on file, it is a good idea to call and make an appointment because many municipal offices have limited hours and staffing.
Important: If your Maine home is your primary residence, you may qualify for one or more partial exemptions offered by the State of Maine, but only if you apply prior to April 1 of the tax year. These exemptions do not require application each year but please remember the completed form must be received by April 1. If you have any questions, call your local town or city office.
Exemptions available: Homestead (must have lived in your home for 12 months prior to April 1); veteran (must be age 62 unless total disability); or blind persons. The forms are the same for every municipality in Maine and can be downloaded at the Maine Revenue Services website, https:www1.maine.gov/ revenue/ forms/ property/ appsformspubs.htm.
The State of Maine reimburses the municipality for a portion of the revenue lost by administering these exemptions each year. As part of the state’s current budget process, there is a proposal to change the Homestead Exemption, which will eliminate it for taxpayers under 65 and increase it for taxpayers over 65, and if passed, the change may be effective for the 2015 tax year. It is critical that you — the taxpayer — keep informed about your continued eligibility.
Attention business owners: You will soon be receiving your annual request for information regarding business personal property (business equipment). This Personal Property Schedule Form is required under Maine State Statute Title 36, §601 and §706. It is important that each business owner complete the form and verify that the list of business equipment in service as of April 1, 2015, is a true and complete list.
If you fail to respond, the tax assessor may estimate the value of your business personal property. Taxpayers who do not comply will, by law, lose their right to an appeal. Please let the office know — in writing — if you have closed your business so that your account can be removed. If nothing has changed, simply check “no change” sign and return the form to the tax assessment office by the deadline.
The Business Equipment Tax Exemption (BETE) is a 100% property tax exemption program for eligible business equipment placed in service after April 1, 2008. Note: Office furniture and equipment located at a retail sales facility does not qualify for BETE. To see if your business is eligible, please contact the Deputy Assessor at 493-5966 to discuss your qualifications for this program and to receive an application form, which must be filed by May 1 of each year with the local tax assessment office. The forms are the same for every municipality in Maine and can be downloaded at the Maine Revenue Services website, https:// www1.maine.gov/ revenue/ propertytax/ propertytaxbenefits/ beteapplication.pdf.
Taxpayers in the City of Caribou may contact the tax assessment office with property assessment-related questions. The office can be reached at 493-3324, option 3, or e-mail: taxassessor@cariboumaine.org.
The office is staffed by two full-time certified Maine assessors, Penny Thompson and Tony Michaud. All forms referenced above can also be downloaded from the City of Caribou website on the “Tax Assessment” department page at www.cariboumaine.org.
