Personal Property is generally portable or moveable items that are used for income production. Examples would be office furniture, business equipment, restaurant equipment and fixtures, and any other item used to operate a business.
All personal property is taxable unless it is specifically exempt by law.
The County Assessor determines the actual value of personal property. By law, a Declaration Schedule MUST be filed with the Assessor annually. Taxes are assessed beginning January 1 for the full year. Therefore, taxes for the full tax year are due immediately upon the closing of a business. Upon his request, the Assessor shall certify to him the valuation for assessment of such personal property for the current year.