Personal Property

Personal Property is a self-assessed system and includes all tangible personal property used in a trade or business, production of income, or is subject to depreciation for federal income tax purposes.

Per IC 6-1.1-2-1.5, the assessment date for Personal Property is January 1st beginning in 2016 and the filing is due May 15th each year. Amended returns are allowed within twelve months from the date of original return. Only timely filed original returns can be amended per IC 6-1.1-3-7.5.

Filing Requirements and Procedures for Personal Property Assessment

REMEMBER The deadline to file Personal Property is May 15th!

Effective January 1, 2022 the state implemented the exemption of Personal Property with an Acquisition Cost under $80,000. A taxpayer that is eligible for the exemption is not required to file a personal property return, but must file an annual certification stating that the taxpayer's business personal property is exempt from taxation for that assessment date. A certificate or Form 103 must be filed with our office every year in order to claim the exemption.