Pay Tangible Personal Property Taxes
Tangible personal property taxes are assessed according to the value of the assets used in a business to derive income. This includes furniture, fixtures and equipment located in businesses and rental property, as well as structural additions to mobile homes.
Tangible personal property taxes are collected on an annual basis. They are ad valorem taxes, based on property values reported by each business, from which a final assessed value, as of January 1, is determined by the Property Appraiser.
Anyone in possession of assets on Jan. 1 must file a tangible personal property tax form by April 1 of each year.
Early payment discounts
Tangible personal property tax notices for the calendar year are mailed on or before Nov. 1 each year with the following early payment discounts:
4 percent if paid in November
3 percent if paid in December
2 percent if paid in January
1 percent if paid in February
Gross tax if paid in March, no discount applies.
For payments made by mail, discounts are based on the postmark of the envelope. Discounts for payments made in person are based on the actual date payment is received.
Interest, Charges & Seizures
- Unpaid tangible personal property taxes become delinquent on April 1 each year, when interest accrues at 1.5 percent per month, plus advertising and fees.
- Within 45 days of delinquency, the Tax Collector is required to advertise the delinquent properties. The advertising costs and fees are added to the delinquent tangible personal property tax notice.
Unpaid Personal Property Taxes
By May 1, the Tax Collector prepares a list of taxpayers with unpaid personal property taxes. Within 30 days, the Tax Collector applies to the Circuit Court for an order directing levy and seizure of property for the amount of unpaid taxes and costs.