An Act To Adjust the Personal Property Tax Exemption for Farm Machinery
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §655, sub-§1, ¶M, as amended by PL 1977, c. 263, is further amended to read:
M. All farm machinery used exclusively in production of hay and field crops to the aggregate actual market value not exceeding $10,000 $45,000, excluding motor vehicles. Motor vehicle shall mean As used in this paragraph, "motor vehicle" means any self-propelled vehicle;
This bill increases the amount of the exemption from personal property taxation for farm machinery from $10,000 to $45,000.