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.
