Personal Property

Personal Property Multipliers

In 1999, after concerns were raised by assessors and taxpayers, the State Tax Commission ordered a study of the Personal Property Multipliers. The law requires uniformity of assessments and a long time had elapsed since the last multipliers were issued. The study verified that a change in multipliers was necessary. Previously some of the tables were asset-specific and some were industry-specific. The new multipliers tables are now all asset-specific. The following is a list of titles and sections for the bulk of usual asset types: Section A - Furniture and Fixtures; Section B - Machinery and Equipment; Section C - Rental Video Games and Tapes; Section D - Office Machines and Electronic, video and test equipment; Section E - Consumer Coin Operated equipment; and Section F - Computer and Peripheral equipment. There is an alphabetized list of assets added to this letter to help locate the correct section for the asset. Personal Property Statement will be mailed, as usual, in December. The statutory filing deadline is February 20.