Personal Property Division WHAT IS PERSONAL PROPERTY? Personal property is everything other than real estate that is used in a business or to produce income. It includes such items as furniture, fixtures, office equipment, appliances, tools, machinery, signs, supplies, leasehold improvements, and equipment leased by the business. Businesses that require their employees to provide their own equipment need to either report the equipment or provide the County Assessor with a list of the employees. Personal property is usually considered not permanently affixed to or a part of the real property. Real property generally consists of land and buildings. The International Association of Assessing Officers (IAAO) uses two common tests, i.e., the intention of the person who put the item in place, and whether the item can be removed from the real estate without damage to the item or the real estate itself. A third "rule of thumb" test is whether the item is serving the building or whether the item is serving the process of production, manufacturing, etc. The Personal Property Section of the Utah County Assessor office also is responsible to assess the value of "manufactured housing" more commonly known as mobile homes. ASSESSING PERSONAL PROPERTY IN UTAH COUNTY: The State of Utah requires each business to file an affidavit listing all equipment and fixtures used in the business operation as of January 1st of each year (see U.C.A. 59-2-306). At the beginning of each year an Affidavit of Personal Property is mailed to each property owner who was previously listed on the county records. Failure to receive an affidavit does not excuse a person from filing or from the penalties on late returns. Utah law requires the Assessor to place an estimate of value and a penalty of $100 or 10% whichever is greater on the accounts of those businesses which have not returned the affidavit (U.C.A. 59-2-307). The affidavit is "self-assessing" which means that the owner lists the equipment used in the business, the year of purchase and the purchase price. The price is multiplied by a depreciation percentage to arrive at a taxable value. These depreciation percentages are supplied by the Utah State Tax Commission and are used statewide. Affidavits for subsequent years will be printed with the equipment previously reported and the updated depreciation already applied. The business owner has only to make adjustments to the market value by adding or deleting the equipment acquired or disposed of during the previous year. Affidavits are subject to auditing by the Utah State Tax Commission on behalf of the County. Any equipment or fixtures that have escaped taxation may be assessed at any time as far back as five years prior to the time of discovery (U.C.A. 59-2-309). If a property owner is dissatisfied with the taxable value of the personal property he or she may appeal by filing an application no later than 30 days after the mailing of the tax notice--affidavit (U.C.A. 59-2-1005.2.) Deputy Assessors in the Personal Property Section will be happy to help anyone with questions about how to fill out the affidavit. Instructions for Personal Property Self Assessing Tax Notice Schedules B Handwritten Form. 2008 Percent Good Rate Table Account Information Change Form 2008 Personal Property Online Tax Statement Filing Motor Vehicle Refund 2007 Personal Property Exemption Information and Application 2008 Personal Property Exemption Information and Application Schedule B - Typed or Computer Generated Form
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