Personal Property Assessments
What is Business Personal Property?
All businesses, churches, and not-for-profit organizations must file business tangible personal property forms with the assessor’s office each year, even if qualified for an exemption.
Business tangible personal property is the value of all property besides real estate that is used in your business or organization. It includes equipment used in the production of income or held as an investment; billboards; foundations for the equipment; and all other tangible property other than real property. Computer application software is considered an intangible asset and is not assessable. Inventory is no longer taxed.
Licensed motor vehicles, trailers, motorized boats, most airplanes, campers, recreational vehicles, and other registered vehicles that are subject to excise tax collected at the time of licensure by the Indiana Bureau of Motor Vehicles are not subject to personal property tax.
Business Personal Property Exemption
If the total cost of all the personal property that your business owns in the county is less than $80,000, then you may be eligible for a business personal property exemption. To qualify for this exemption, you need to fill out all the necessary forms and check the box at the top of either Form 103-Long, Form 103-Short, or Form 102, indicating that the value of your assets is under $80,000.
When can we begin our yearly filing? You can begin your filing as soon as 2 January as long as the State has provided any new changes to forms or added any new forms by then.
Please be aware that the due date for filing your taxes is May 15, 2024. If you fail to file your taxes on or before this date, whether by in-person submission, mail postmarked, or online, you will be charged a $25 late fee on your following tax bill. In the event that you fail to meet the June 15, 2024 deadline, an additional 20% of your total tax liability will be levied as a late penalty on the following tax bill.
What is PPOP-IN?
The Indiana Department of Local Government Finance’s modernization effort includes the Personal Property Online Portal – Indiana (PPOP-IN), which is the online service portal for customers to use when filing business personal property filings with their county/township assessor.
Who will be impacted?
Taxpayers
- Any business or farmer that owns or holds personal property in Indiana.
Authorized Agents
- Individuals are responsible for filing a business personal property filing on behalf of a business or farmer.
How to File?
Online: Personal Property Online Portal – Indiana (PPOP-IN)
Paper Filing with county assessor: