Tangible Personal Property

Helpful Hints and Suggestions

1) File the original return with preprinted name and account number by April 1st making any changes necssary to the preprinted form. Be sure to sign and date your return.

2) It is important to provide a breakdown of assets since depreciation on each item may vary.

3) Include your estimate of fair market value, date of acquisition and the original installed cost (including such costs as transportation, installation, startup and sales tax. Include all costs to put the asset in place) along with condition of the assets. Provide explanation of any out of ordinary condition adjustments. These are important considerations in the determination of an accurate assessment.

4) Identify any equipment that may have been “physically removed”. List those items in the appropriate space on your return.

5) If you sell your business, go out of business, or move your business; inform the Property Appraiser in writing, as soon as possible, to avoid additional tangible personal property liability.