Maine § 655. - Personal property
Full text of Maine Maine Revised Statutes § 655. — Personal property, with citation guidance and answers to common questions.
§ 655.. Personal property
The following personal property is exempt from taxation:
1. Personal property.
A. Industrial inventories including raw materials, goods in process and finished work on hand; [PL 1973, c. 592, §13 (RPR).]
B. Stock-in-trade, including inventory held for resale by a distributor, wholesaler, retail merchant or service establishment. "Stock-in-trade" also includes unoccupied manufactured housing, as defined in Title 10, section 9002, subsection 7, paragraph A or C, that was not previously occupied at its present location, that is not connected to water or sewer and that is owned and offered for sale by a person licensed for the retail sale of manufactured housing pursuant to Title 10, chapter 951, subchapter 2; [PL 2019, c. 607, Pt. A, §5 (AMD).]
C. Agricultural produce and forest products, including logs, pulpwood, woodchips and lumber; [PL 1973, c. 592, §13 (RPR).]
D. Livestock, including farm animals, neat cattle and fowl; [PL 2017, c. 288, Pt. A, §40 (AMD).]
E. The household furniture, including television sets and musical instruments of each person in any one household; and each person's wearing apparel, farming utensils and mechanical tools necessary for that person's business; [PL 2025, c. 113, Pt. D, §20 (AMD).]
F. All radium used in the practice of medicine; [PL 1973, c. 592, §13 (RPR).]
G. Property in the possession of a common carrier while in interstate transportation or held en route awaiting further transportation to the destination named in a through bill of lading; [PL 1973, c. 592, §13 (RPR).]
H. Vessels built, in the process of construction, or undergoing repairs, which are within the State on the first day of each April and are owned by persons residing out of the State. "Vessels" as used in this paragraph shall not be construed to include pleasure vessels and boats; [PL 1973, c. 592, §13 (RPR).]
I. Pleasure vessels and boats in the State on the first day of each April whose owners reside out of the State, and which are left in this State by the owners for the purpose of repair or storage, except those regularly kept in the State during the preceding year; [PL 1973, c. 592, §13 (RPR).]
J. Personal property in another state or country and legally taxed there; [PL 1973, c. 592, §13 (RPR).]
K. Vehicles exempt from excise tax in accordance with section 1483; [PL 1973, c. 592, §13 (RPR).]
L. Registered snowmobiles as defined in Title 12, section 13001, subsection 25; [PL 2003, c. 414, Pt. B, §49 (AMD); PL 2003, c. 614, §9 (AFF).]
M. All farm machinery used exclusively in production of hay and field crops to the aggregate actual market value not exceeding $10,000, excluding motor vehicles. Motor vehicle shall mean any self-propelled vehicle; [PL 1977, c. 263 (AMD).]
N. Water pollution control facilities and air pollution control facilities as defined in section 656, subsection 1, paragraph E; [PL 2005, c. 652, §1 (AMD); PL 2005, c. 652, §3 (AFF).]
O. All beehives; [PL 1973, c. 788, §182 (RPR).]
P. All items of individually owned personal property with a just value of less than $1,000, except:
(2) Vehicles as defined in section 1481 that are not subject to an excise tax; [PL 2007, c. 627, §23 (AMD).]
Q. [PL 1983, c. 777, §3 (RP).]
R. [PL 1983, c. 632, Pt. A, §5 (RP); PL 1983, c. 632, Pt. B, §5 (RP).]
S. [PL 2025, c. 469, §9 (RP); PL 2025, c. 469, §44 (AFF).]
S-1. Unextracted minerals. For purposes of this paragraph, "minerals" has the same meaning as in section 2855, subsection 9; [PL 2025, c. 469, §10 (NEW); PL 2025, c. 469, §44 (AFF).]
T. Trail-grooming equipment registered under Title 12, section 13113; [PL 2023, c. 682, §1 (AMD).]
U. Solar and wind energy equipment that generates heat or electricity if all of the energy is:
(2) Transmitted through the facilities of a transmission and distribution utility and a utility customer or customers receive a utility bill credit for the energy generated by the equipment pursuant to Title 35‑A.
On or before April 1st of the first property tax year for which a taxpayer claims an exemption under this paragraph, the taxpayer claiming the exemption shall file a report with the assessor. The report must identify the property for which the exemption is claimed and must be made on a form prescribed by the State Tax Assessor or a substitute form approved by the State Tax Assessor. The State Tax Assessor shall furnish copies of the form to each municipality in the State and make the forms available to taxpayers.
This paragraph applies to solar energy equipment for property tax years beginning before April 1, 2025; and
V. For property tax years beginning on or after April 1, 2025, solar energy equipment that generates heat or electricity if:
(2) The equipment is collocated with a net energy billing customer that is or net energy billing customers that are subscribed to at least 50% of the facility's output; or
(3) All of the energy is transmitted through the facilities of a transmission and distribution utility and a utility customer or customers receive a utility bill credit for the energy generated by the equipment pursuant to Title 35‑A, section 3209‑A or 3209‑B and the generator of electricity entered into a fully executed interconnection agreement with a transmission and distribution utility prior to June 1, 2024.
On or before April 1st of the first property tax year for which a taxpayer claims an exemption under this paragraph, the taxpayer claiming the exemption shall file a report with the assessor. The report must identify the property for which the exemption is claimed and must be made on a form prescribed by the State Tax Assessor or a substitute form approved by the State Tax Assessor. The State Tax Assessor shall furnish copies of the form to each municipality in the State and make the forms available to taxpayers. [PL 2023, c. 682, §3 (NEW).]
Frequently Asked Questions About Maine § 655.
What does Maine Revised Statutes § 655. cover?
Section 655. ("Personal property") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 655.?
A common citation format is "Maine Revised Statutes § 655." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 655. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.