Personal property of businesses(computers, office furniture, equipment, etc.), whether owned or leased, is taxed on an annual basis. Assessments are based on seventy percent of the depreciated value.
All owners of business personal property must complete and return a personal property declaration to the Assessor no later than November 1st annually. If the declaration is not filed, the Assessor is required by State Statute to complete a declaration for the owner with an estimated assessment, and add a 25% penalty thereto. A penalty is also assessed if the declaration is submitted after the November 1st deadline. Forms can be downloaded (below), but must be printed and mailed or submitted in person to the Assessor's office.
The information required on the declaration form includes the date of acquisition of the property, as well as its costs of acquisition including installation. This information is confidential and not open to public inspection.
There are certain exemptions available for business personal property such as for manufacturing equipment or farm machinery among others. Please contact the Assessor’s office at 860-887-5581 x115 for further information.