The following is some important information that you should know about personal property taxes:
2009 Personal Property Statement Form
Tangible personal property is defined as tangible property that is not real estate. In other words personal property is furniture, fixtures, equipment and signs that you use in connection with operating a business. This would include but not limited to computers, signs, racks, display cabinets, cash registers, fax machines, copiers, restaurant equipment, coolers, etc.
Personal property is an ad valorem (according to value) tax. The assessed value is based on 50% of the depreciated age of the actual purchase price, including shipping, taxes and installation. During the last week of December you will receive a Personal Property Form that is used to obtain a statement of the value of your personal property. It is mandatory that you return the form no later than February 20th each year. To avoid an estimated assessment you must timely file the form.
Leased equipment should be noted in the space provided on the form. You should not include the value of leased equipment, unless you are directly responsible for the taxes. The leasing company will report the equipment on their own personal property form.
If you have any question regarding the administration of personal property taxes, please feel free to contact the Assessor's Office and a member of the staff will be happy to assist you.