Dubois County Assessor Gail Gramelspacher reminds taxpayers who own, hold, possess or control farm equipment or business equipment about assessment dates and deadlines.
The assessment date for personal property was January 1st.
Taxpayers who have less than $20,000 in acquisition costs in the county can file an exemption so that no tax would be due. If a return was filed in 2016, the taxpayer will receive information in the mail. The deadline for filing the exemption form, which is now included on the regular assessment form, is May 15th.
Failure to file the form on time will result in a $25 penalty per state law.
If the taxpayer’s acquisition costs are $20,000 or more in the county the forms would be filed as usual. Persons owning farm equipment are required to file Personal Property Forms 102 and 104.
Those owning business equipment are required to file Personal Property Forms 103 and 104.
Forms are available from the county assessor’s office or online at www.in.gov/dlgf.
Gramelspacher says nonprofit organizations filing a personal property return must file a regular return regardless of the acquisition cost.
She says the nonprofit entity will be exempt due to the Form 136 filing, which is the application for property tax exemption. Penalties still apply if the assessment form is not filed in a timely manner.
The deadline for filing the assessment forms this year is also May 15th.
Failure to file a return by that time will result in a $25 penalty. In addition, if the return is not filed within 30 days after the return is due, a penalty of 20 percent of the taxes due will be added.
Questions can be directed to the assessor’s office, 812-481-7010.
