Personal Property is defined as: every kind of property that is not real property, it is moveable without damage to itself or the real estate. For the purposes of taxation, only personal property used in business is taxable. That property owned by private persons and solely for private use is not taxable.

Taxable personal property includes (but is not limited to) all furniture, fixtures, machines, computers, software, equipment, telephone systems, tools, manuals or libraries, unlicensed vehicles, mobile machinery, along with any small items used in business. Leasehold property must be reported, but listed separately and clearly identified. Leased equipment must be listed separately and in detail along with the name and address of the lease company. Inventory for resale, licensed vehicles and licensed trailers are not personal property. Nor are those pieces of equipment attached to licensed vehicles and trailers (provided that their value is reported with the vehicle at time of licensing.)

We are required to list and value all applicable personal property as of January 1st of each year. State statute requires self reporting of personal property. We will send out a form each year by the end of December to all current and new businesses. These forms are to be completed and returned no later than March first of each year. Each business must check this form for accuracy, make corrections, add new property and sign it. If the form is blank ( for a new business) or shows an estimated value, it must be filled in, listing all accurate current property owned. This is necessary to ensure proper valuation and equitable taxation. If forms are not filled out or not returned in time an estimate will be made on the value of property based on what information is available to us.

Mobile machinery as defined by state statute must be recorded for taxes and have a mobile machinery sticker from the Treasurer’s Office. It is necessary to replace this sticker every year by January 1st or purchase a new sticker immediately for machinery purchased after January 1st. All Mobile Machinery purchased after January 1st of the tax year will be prorated for the number of months it is owned in that year and then put on for the next full tax year.

See below for applicable State Statutes and Department of Revenue Rules & Regulations:

State Statutes

DOR Rules