When is personal property assessed during the year?

Personal property values are assessed January 1 of every year and are self reported by property owners to assessors using prescribed state forms. The completed personal property return can be submitted begining January 1 however, must be filed, or post marked, with the assessor no later than May 15.

Metered mail will not be accepted as a post mark verification.

For Personal Property being assessed Prior to December 31, 2019, Taxpayers with less than $20,000 in total acquisition costs for Business Personal Property is required to file an annual personal property return stating that the taxpayer’s business personal property is exempt from taxation for the applicable assessment date. For Personal Property being assessed After December 31, 2019, Taxpayers with less than $40,000 in acquisition costs for Business Personal Property is required to file an annual personal property return stating that the taxpayer’s business personal property is exempt from taxation for the applicable assessment date.

Failure to file the annual forms will result in late fees.  The $20,000 or $40,000 is not a deduction to lower your tax liability.  If you have acquisition costs that exceed either limits, your filings will remain as normal

If you have any questions or clarification if you qualify, please contact the Assessor's Office for details at 765-584-2427

Department or Board / Council / Commission: 
Assessor