Unlike Real Estate assessments, Personal Property is a self-assessment system.

Every person, firm, company, partnership, association, corporation, fiduciary, or individual owning, holding, possessing, or controlling personal property in the county must file. The taxpayer is 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.

This property includes tools, machinery, electronics, furniture, appliances, racking & shelving, cabinetry, signage, farm equipment, etc. Inventory items or supplies are not required to be reported on personal property returns. Licensed motor vehicles, trailers, motorized boats, most airplanes, campers, recreational vehicles and other registered vehicles that are subject to excise tax collected at the time of licensure by the Indiana Bureau of Motor Vehicles are not subject to personal property tax.

All businesses, churches, and not-for-profit organizations must file business tangible personal property forms with the assessor’s office each year, even if qualified for an exemption. 

Per IC 6-1.1-2-1.5, the assessment date for Personal Property is January 1st and the filing is May 15th each year. If a personal property return is not filed by May 15 of each year it would incur a $25 penalty and if the return is over 30 days late it would receive an additional penalty equal to 20% of the taxes due.

Assessment of Personal Property - FAQ

Under $80,000 exemption - Do you own a business that holds and/or operates equipment with a total acquisition cost under $80,000?  You may qualify for an exemption on your tangible business personal property equipment.  An Under $80,000 Exemption Form must be filed with our office annually.

Personal Property Exemption - FAQ

Did Your Business Close

Did your business close before January 1, 2022? If your business is closed or is closing, please contact the Assessor’s office as soon as possible. We are unaware of a closing until the owner/taxpayer notifies the office directly.

Personal Property Forms:

Other forms can be found Here.