- Home
- Departments
- Property Tax & Assessment
- Assessor
- Personal Property
Personal Property
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.
- Filing Requirements and Procedures for Personal Property Assessment 50 IAC 4.2 (PDF)
- Procedures for Personal Property Assessment IC 6-1.1-3
Per IC 6-1.1-2-1.5, the assessment date for Personal Property is January 1st and the filing is due May 15th each year. Amended returns are allowed within twelve months from the date of the original return. Only timely filed original returns can be amended per IC 6-1.1-3-7.5.
Business Closed/Change of Address (E-Form)
Under $80,000 Exemption
Per IC 6-1.1-3-7.2, if the cost of a taxpayer's total business personal property in a county is less than $80,000 for the assessment date, then the taxpayer's business personal property in the county for that assessment date is exempt from taxation. The taxpayer must declare the exemption using personal property form 102 or 103.
Beginning with the January 1, 2023 assessment date, a taxpayer is no longer required to file a personal property tax return if they have previously filed a return that claimed the exemption, unless or until the taxpayer no longer qualifies for the exemption. If the taxpayer filed a return and claimed the exemption for the January 1, 2022 assessment date and continues to qualify for the exemption in 2023, no return is required in 2023.
- What is business personal property?
-
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.
- I am with a church, charity, and/or not for profit school who is exempt from property taxes (Form 136 filed). Do I still need to file a business personal property return?
-
Effective for the January 1, 2023 assessment date, per IC 6-1.1-3-7, churches and religious societies that have filed their personal property return the previous five years (2018-2022) are no longer required to file. If the taxpayer does not fall under a church or religious society, the Form 104 and Form 103 still required. Exception: When the Church or Religious society has a change of ownership or a change resulting in the personal property no longer qualifying for the exemption, the 104 and 103 is required to be filed.
- Will the Assessor send the forms to me?
-
It is the responsibility of the taxpayer to obtain forms from the assessor and file a timely return. The forms are also available online at the Department of Local Government Finance's (DLGF) website or on our Personal Property page.
- My existing business qualifies for the under $80,000 exemption. What forms need to be filed?
-
Effective for the January 1, 2023, assessment date, per IC 6-1.1-3-7.2, if the taxpayer filed a 2022 return, claimed the under $80,000 and qualifies for the exemption, a return does not need to be filed.
Exception: If the taxpayer no longer qualifies for the exemption, a return must be filed
- My new business qualifies for the under $80,000 exemption, what forms need to be filed?
-
New businesses that qualify for the under $80,000 exemption MUST file an initial return stating the acquisition cost of the assets and claiming the exemption. The taxpayer will not need to file the following year.
Example: New business files their initial return for 1/1/2023 and claims the under $80,000 exemption, the taxpayer will not be required to file for the 1/1/2024 assessment year or future years, until the business no longer qualifies for the under $80,000 exemption.
- I am looking for my previously filed business personal property returns. Can I get copies?
-
Yes. You may retrieve copies of your previously filed 103 and/or 104 forms from our office. Please be aware that many forms related to business personal property are considered confidential pursuant IC 6- 1.1-35-9, a confidentiality form request and a copy of the driver’s license will be required.
- My business closed before the January 1 assessment date. What do I do?
-
Please notify the Assessor’s Office on or before May 15th. Please notify the office in writing. An email can be sent to the Personal Property Division. Additionally, page 3 of the form 103 and form 102, there is a “closed business” section that can be filled out and filed.
- My business sold or changed locations before the January 1 assessment date. What do I do?
-
Please notify the Assessor’s Office on or before May 15th. Please notify the office in writing. An email can be sent to the Personal Property Division. Additionally, page 1 of the form 103 and form 102 has a change of status section where the taxpayer can indicate that the business sold and who it was sold to. This section also allows the taxpayer to notify the Assessor’s office if the business moved to another location.
- How do I submit the personal property forms with the Assessor’s Office?
-
The forms may be filed in four ways. The forms must be signed before submission.
1. Email: [email protected]
2. Mail: 1 E Main Street Ste 415 - Edwin J. Rousseau Centre – Fort Wayne, IN 46802
3. Fax: 260-449-4693
If your NEW business operates equipment with an acquisition cost under $80,000, you may submit the form electronically on our website: https://www.allencounty.us/personal-property
- How do I report my leased equipment?
-
Leased equipment is reported on a 103-N (not owned) or 103-O (owned) along with your 103 and/or 104 forms. As much information as possible should be provided to identify the asset(s), i.e. serial and/or model numbers, lease dates, cost, lessee and/or lessor contact information, etc. Failure to properly disclose lease information may result in a double assessment. (IC 6-1.1-2-4(a))