Personal Property

Business & Farmers Personal Property Assessment

is due every year by

May 15th.

Personal Property is a self assessment. 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; no matter how large or small your business is.  Inventory is no longer taxed, and anything that has a plate on it from the BMV (vehicles) are not taxable.
It is the taxpayers responsibility to obtain and file the correct forms. Forms may be picked up in the Assessor Office, or blank forms are available on the DLGF webite. Please note, it is also the taxpayers responsibility to inform the Assessor's Office if their business closes. Failure to let the Assessors know of such closure will still result in an accumulation of penalties for each year until we are notified. 
Forms must be filed with the County Assessor by May 15th. Late forms will receive a $25 late fee. (Assessors do not have the authority to waive penalties for the late forms.)
Also starting in 2016, personal property with a total COST of $20,000 or less is exempt from taxation. A taxpayer wishing to claim this exemption must declare at the top of the form (103 or 102) that their assets are under 20,000. If eligible, the taxpayer does NOT need to complete the entire personal property return (meaning page 2 -4). Signatures are still required and the form must be filed every year by May 15th to the County Assessor.
As always, someone from the Assessor's Office will be available to assist taxpayers with the filing of their personal property forms.

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201 N Jefferson St
Huntington, IN 46750

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