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
For taxpayers with less than $2,000,000 in acquisition costs to report within the county, IC 6-1.1-3-7.2 exempts this property. If you are claiming this exemption, check this box, enter the total acquisition cost of your personal property in the county, and complete only sections I, II, and IV of this form. If you are claiming this exemption through this form, you must also file Form 104. If you filed a return and claimed this exemption in a previous assessment year and you continue to qualify for this exemption, no return is required.
Filing Due Date
May 15, 2026
How to File?
If you desire blank personal property forms for a previous year, please contact the DLGF with your request.
Prior year Business Tangible Personal Property returns should be requested from the assessor’s office in the county where the business is located.
- Paper Filing with county/township assessor
Indiana Code and Administrative Rule
- Procedure for Personal Property Assessment IC 6-1.1-3
- Assessment of Tangible Personal Property: 50 IAC 4.2
- Effective March 1, 2011, Assessment Date