Data was last updated 2/2/2020

PERSONAL PROPERTY

Personal Property is a self-assessed valuation system whereas property owners are responsible for reporting all tangible personal property that is used in their trade or business, used for the production of income, or held as an investment that should be or is subject to depreciation for federal income tax purposes. Completed personal property returns are due on or before Friday, May 15, 2020.

A penalty of twenty-five dollars ($25) applies for returns filed after May 15th. For returns not filed within thirty (30) days of the due date, an additional fee of twenty percent (20%) of the taxes payable will be assessed.

Pursuant to Indiana Code 6-1.1-3-7 (b), a county assessor MAY grant an extension of not more than thirty (30) days to file the taxpayer’s return.

Personal Property Exemption

Personal Property exemption eligibility/notification SEA 233-2019

Beginning with the January 1, 2020 assessment date, the personal property exemption increases from $20,000 to $40,000. Personal property returns for eligible taxpayers (those whose total acquisition costs do not exceed $40,000) must include the following information:

  1. A declaration that the taxpayer’s business property in the county is exempt from taxation;
  2. Whether the taxpayer’s business personal property within the county is in one (1) location or multiple locations; and
  3. If the property is in multiple locations, the taxpayer must provide an address for the location where the sum of personal property acquisition costs is greatest.

Effective July 1, 2019, the $50 Local Service Filing Fee is eliminated.