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Q:  How is personal property value determined?

A:  Business owners must report their personal property to the county assessor's office in the county where the property is located. The form to make this report is called a personal property affidavit or listing and is due by April 30th of each year. The assessor uses the affidavit to value your personal property. The valuation is typically done using the Department of Revenue's Personal Property Valuation Guidelines. Taxes resulting from a county's personal property assessment are due the following year. Personal property tax rates are the same as for real property.
More information
Personal Property Valuation Guidelines
Personal Property Tax (pdf)
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