Personal property taxes are levied against all tangible personal property used in a trade or business, used for the production of income, or held as an investment that should be or is subject to depreciation for federal income tax purposes including but not limited to mobile homes (not on permanent foundations), billboards, and materials for use in production. Inventory is no longer taxed.
Personal property values are assessed January 1 of every year and are self reported by property owners to the County Assessor using prescribed state forms. The completed personal property return must be filed with the local County Assessor no later than May 15. Taxes on the reported values are due in two installments in May and November of the following year.