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What personal property is and how we assess it

Learn more about taxable personal property and how we calculate its value.

The county where your business is located does your personal property assessment. Where you live isn't relevant unless it's your business location.

What personal property is

Personal property is assets used in a business. It must be movable from one location to another. Unless it's exempt, all personal property is taxable, including:

  • Office and communications equipment
  • Materials that are not for sale or are components of a product
  • Supplies such as paper, envelopes, and staples
  • Tools, furniture, rugs, and fixtures used in a business
  • Leased or rented equipment
  • Leaseholder and tenant improvements
  • Lessee-owned improvements on public land
  • Machinery and equipment used in agriculture, construction, manufacturing, and logging
  • Signs, billboards, poster panels, and display samples not held for sale
  • Commercial vessels that are not subject to excise tax
  • Off-road vehicles, drag racers, and other competition vehicles that aren't licensed
  • Rental media such as DVDs or game cartridges
  • Boathouses, portable buildings, and office trailers

Exempt personal property

  • Household goods and personal effects, unless used in a business.
  • Custom software
  • Livestock
  • Inventories held for resale
  • Money
  • Franchise agreements
  • Personal service contracts
  • Patents
  • Copyrights
  • Customer lists
  • Brand names
  • Licenses
  • Intellectual property
  • Items that become part of a business product or service (such as bottles or cans used in food manufacturing)

How we assess personal property

We base our assessment on the info you provide on the personal property form or eListing. You include a description of the personal property and its cost and age. We use it and the Department of Revenue valuation guidelines to determine the value. We'll mail you a notice that shows the value used to calculate your property tax.

View a presentation on personal property valuation to learn more.