PLEASE READ THIS LETTER IN ITS ENTIRETY: FAILURE TO COMPLY WITH
INSTRUCTIONS MAY RESULT IN A HEAVY PENALTY.
DO NOT IGNORE THIS LETTER
Enclosed is your 2026 Signed Statement of Personal Property and Schedule A (YELLOW paper).
Also enclosed are:
USTC 2026 Personal Property Percent Good Valuation Schedule & Personal Property Classification Guide (PINK paper).
Schedule B – Personal Property Acquired and Disposed of in 2025 (BLUE paper).
Signed statements will not be accepted without an itemized list of your equipment.
--SECTION A--
Line 1 asks for Equipment and Supplies. If you have previously filed, the amount that needs to be listed on Line 1 is printed on the last YELLOW page of your statement. If you are a lease company, this would be your total Taxable Value. This amount can be changed according to the changing costs of supplies. Just line through the printed amount and write in the current amount. The cost of supplies can be determined by taking the one-year total cost of supplies and dividing it by 12. Supplies on hand include all office supplies, replacement parts, maintenance supplies, lubricating oils, fuel, and consumable items not held for sale in the ordinary course of business. Inventory items are not included. Supplies need to be adjusted each year.
Line 2: For businesses that have previously filed: If you acquired new property during 2025, you must complete Schedule B (BLUE paper), listing the acquisitions and placing that total on Line 2. If you have not acquired any property during 2025, this line can be left blank. Your additions must tie to last year’s rendition! While you may send your own spread sheet, you must show addition detail.
If this is for a new business or for a business that has not previously filed, you will need to list all of your equipment, the year it was acquired and the price when purchased, on the back of the YELLOW paper OR include a separate spreadsheet with this information. Next, using the PINK paper, determine the correct Property Code and Percent Good for the item. Then, multiply the acquisition Cost of the item by the Percent Good. This is the Taxable Value of the item. After the Taxable Value for all of the items have been determined, total this column to get the Grand Total. This total should then be placed on Line 2 on the front of the YELLOW paper.
Line 3: For businesses that have previously filed: If you disposed of old property during 2025, you must complete Schedule B (BLUE paper), listing those changes and placing that total on Line 3. If you have not acquired or disposed of any property during 2025, this line can be left blank. Your deletions must tie to last year’s rendition! While you may send your own spread sheet, you must show deletion detail.
Line 4 is your total taxable value (total lines 1& 2 minus 3). If the total on Line 4 is $30,100 or less, STOP, do not calculate the tax at this time, go to the Exemption Application below (Section B). If the total on Line 4 is $30,101 or greater, continue on to Line 5. DO NOT DEDUCT $30,100.
A statement returned with zero’s entered in lines 1, 2, & 4 with no explanation as to why, will be estimated by the Assessor’s office and NO exemption will be allowed. You must itemize all personal property to be eligible for the exemption. Statements not returned at all, will receive a penalty equal to 10% of the estimated tax due but not less than $25.00. Your business statement may be audited.
Line 5 is the tax rate for the taxing district for the physical (situs) address of your business. If your business has moved during the year, please call us for the correct tax rate for the new location.
Line 6 is asking for the Age Based Fee total. If your business has an off-highway vehicle that is NOT registered with Motor Vehicles, it needs to be listed on Schedule A with its appropriate Age Based fee. (Contact us for the correct fees)
Line 7 is the total tax dollar amount due. Multiply Line 4 by the tax rate on Line 5, add the total age-based fee if any.
Sign your Confidential Annual Personal Property Tax Statement. Unsigned statements will be returned and may be subject to additional interest and penalties if delayed. Make a copy as no receipt will be issued.