Scott County Assessor, Diana Cozart, this week reminded personal taxpayers who file Business Tangible Personal Property returns that deadlines are approaching.
Personal Property is a self-assessment system in Indiana. 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 or is subject to depreciation for federal income tax purposes.
The assessment date for Personal Property is January 1st of each year and the filing due date is May 15th of each year. Forms must be filled out in their entirety, signed and dated.
For taxpayers who filed a return and claimed the less than $80,000 of acquisition costs exemption on last year’s assessment and continue to qualify for this exemption, no return is required.
Forms may be obtained online at www.in.gov/dlgf or in the County Assessor’s Office. You may also submit via Indiana’s online portal at poppin.in.gov.
Any questions, please contact the County Assessor’s Office at 812-752-8436 Monday – Friday 8:30-4:30.