After submission of an initial application, a taxpayer is not required to submit annual applications as long as he continues to elect to prepay taxes by installments. For additional information as to discounts and payment dates, contact the local county tax collector. Household Goods - Apparel, furniture, appliances, and other items usually found in the home and used for the comfort of the owner and family. Household goods are exempt from property taxation. Inventory - Items of inventory are exempt from property taxation.
Inventory generally means goods, wares, and merchandise held by a business for sale.
Some items of personal property are not taxable, for example, licensed motor vehicles, boats, airplanes, trailers, trailer coaches, and certain mobile homes as defined by law. Taxable items are assessed at just value based on an annual return that must be filed by April 1 with the county property appraiser. The year of purchase, original cost, and the taxpayer's estimate of just value is required on the return. The property appraiser has the duty to discover omissions and to place value upon personal property. The amount of tax due is calculated by multiplying the value of the property by the tax rate set by the taxing authorities.