Personal Property Taxes (a.k.a. Personalty Taxes) are taxes that are based on temporary or moveable property such as furnishings, office machines, computers, telephones, vehicles, and other such items that are used by a company or a person to operate a business.
The Assessor furnishes a schedule to each business owner no later than February 1 of each year. Included on this schedule is a detailed list of all the tangible personal property owned by the business. The Assessor determines the value of the personal property based on information supplied.
It is the duty of the taxpayer to fully list all tangible personal property, including other information required by the Assessor, to place a correct value on the property and to sign and return the schedule prior to the due date. If the schedule is not returned prior to the due date, a forced assessment is given.
Anyone in business on January 1st of any given year is responsible for the entire year’s tax, even if they closed their business prior to December 31st of that same year.