Personal property of businesses (computer, desks, files, etc.), whether owned or leased, is taxed on an annual basis.
All owners of business personal property must complete and return a personal property declaration to the Assessor no later than November 1st annually. If the declaration is not filed, the Assessor is required by State Statute to complete a declaration for the owner with an estimated assessment, and add a 25% penalty thereto. A penalty is also assessed if the declaration is submitted after the November 1 deadline.
The information required on the declaration form includes the date of acquisition of the property, as well as its costs of acquisition including installation. This information is confidential and not open to public inspection.
There are certain exemptions available for business personal property such as for manufacturing equipment or farm machinery among others.
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