Ginny Whipple, Bartholomew County Assessor, is reminding taxpayers that the deadline for filing Personal Property Forms is May 15th. In Indiana, personal property is self-assessed. It is the responsibility of the taxpayer to obtain the appropriate forms and file a return with the correct assessing official in the county where the personal property is located.
Assessor Whipple states that the staff at the assessor’s office can submit the forms electronically while the taxpayer is in the office. This only takes a few minutes and can save taxpayers the time and effort of filling out the forms themselves.
Indiana taxes both real estate and personal property. The taxpayer is responsible for reporting all tangible personal property used in their trade or business for the production of income or held as an investment. This includes among other things office equipment, office furniture and industrial and farm machinery.
Vehicles subject to excise tax are not considered personal property. Excise taxes are collected by the BMV at time of licensure. This includes cars, RVs, semis and farm trucks.
If the total acquisition amount of personal property county wide is under $20,000 the owner is exempt from taxation. However, the taxpayer is still required to file a return each year. Forms not submitted or postmarked by the May 15th deadline are subject to penalty.
If you prefer to complete the forms yourself, they can be obtained online at in.gov/dlgf. Forms and reminder postcards are no longer mailed to taxpayers.
For more information, call the assessor’s office at (812) 379-1505.