Personal Property Assessments

Personal Property is assessed for the purpose of establishing the value of items not considered real estate.  Examples are:

  • For Farmers
    • Feed bins (Not Grain Bins)
    • Equipment (such as listed on the Federal Return Depreciation Schedule)
  • For other types of businesses:
    • office equipment
    • manufacturing machines
    • leased equipment, if not reported by the lessor

Forms used are based on the type and complexity of the business.

  • Every business should file:
    • Form 104 - Personal Property Return
  • Farmers should also file:
    • Form 102 - Farmer's Tangible Personal Property Return (which allows for pooling equipment schedules)
  • Small, non-farm businesses also file:
    • Form 103 Short - Business Tangible Personal Property Return (which contains 12 lines of depreciable personal property)
  • Commercial and Industrial businesses also file
    • Form 103 Long - Business Tangible Personal Property Return (allows for pooling equipment schedules

Personal Property returns shall be filed with the County Assessor beginning January 1 with the deadline for filing being May 15 each year.  Randolph County does not grant extensions due to the time period offered for filing. 

Access and download the Personal Property Forms (in.gov)