Personal Property

ASSESSMENT DATE--JANUARY 1 OF EVERY YEAR

DEADLINE TO FILE--MAY 15 OF EVERY YEAR

(If the 15th falls on a weekend or holiday the due date is the next business day)

Effective Jan. 1, 2023, HEA 1260 amends IC 6-1.1-3-7, 7.2 for returns required to be filed May 15, 2023. A taxpayer is NO longer required to file a return if the acquisition cost is < 80,000, AND they have filed the prior year, UNLESS the total cost now exceeds 80,000.

Churches and religious societies are NO longer required to file a return who are exempt AND have filed a return for 5 years. 

DEFINITION OF PERSONAL PROPERTY

In addition to real estate, Indiana taxes all personal property.  The taxpayer is responsible for reporting all tangible personal property that is used in their trade or business, used for the production of income, or held as an investment that should be or is subject to depreciation for federal income tax purposes.  Personal property is any property not attached to real estate, such as but not limited to farm implements, office equipment, and manufacturing equipment.

Personal Property is self-assessed by the taxpayer but then it is audited at the County Assessor's office for accuracy.  

PENALTIES

All personal property is assessed based on the January 1 assessment date.  The taxpayer takes inventory of all assets/equipment on January 1 and must report to the County Assessor by May 15.  Failure to file by May 15 will cause the taxpayer to receive a $25 penalty assessed to their tax bill.  If the taxpayer fails to file before June 15, an additional 20% will be added in addition to the original tax due and the $25 late fee.  These late fees and penalties are required by State statute to assess. 

REQUIRED FORMS

TAXPAYERS ARE RESPONSIBLE FOR FILLING OUT THEIR OWN FORMS, OR HAVE A TAX PREPARER FILE THEM

Required forms may be found by clicking on this link

https://www.in.gov/dlgf/forms/dlgf-forms/#Personal

Whichever form applies to your business (Form 102, Form 103 Short, or Form 103 Long) must always have a Form 104 attached when filing with the County Assessor.

FORM 104 is used for public information and is NOT confidential.  This form must be included with every return.

FORM 102 is used to report all tangible farm equipment--CONFIDENTIAL

FORM 103 SHORT used for equipment cost under 150,000--CONFIDENTIAL

FORM 103 LONG used in reporting all business tangible personal property over 150,000--CONFIDENTIAL

FORM 103 T (special tooling), FORM 103 O and FORM 103 N (leased equipment), FORM 103 P (pollution), and FORM 106 (reporting adjustments) are additional forms that may be required depending on your business--CONFIDENTIAL

Per IC 6-1.1-35-9 & IC 6-1.1-35-11 & 12

The information required of a taxpayer to be filed on the Personal Property forms 102, 103 Short and Long & ERA is CONFIDENTIAL.  Any supplemental information or forms attached to a Personal Property return that support the return, including all abatement forms, are subject to same confidential standard as that for the form itself.  ONLY the taxpayer, POA, assessing employees, and anyone under contract to any assessing official are authorized to this information. 

REQUIRED INFORMATION

Recent changes in Indiana law now require taxpayers who file a Business Tangible Personal Property Return (102, 103 Short, 103 Long) to complete the entire form.  The following are regularly absent from filed returns:

Incomplete returns may result in fines pursuant to Indiana law IC 6-1.1-37-7(d).

ABATEMENTS

  • Taxpayers may qualify for a tax abatement on personal property equipment.  If the County Council or Municipality has approved a business for a tax abatement, the taxpayer must annually file the required forms with their Governing Body in order to receive compliancy.  All forms filed with the return pertaining to the ERA deduction are confidential along with the return.  The Assessor's office can not release a copy of any form filed with the return pertaining to the abatement. 

LIST OF TAXING DISCTRICTS

Taxpayers are required to report to the taxing district in which the asset/equipment is located on Jan 1.  Whitley County has 14 different taxing districts.  The situs address on March 1st will determine the taxing district.

To determine your Taxing District, visit the county's GIS, and search by the situs address.  Once located, the tax district can be determined by using the last 3 digits of the parcel id number associated with that address.  Those 3 digits should be preceded by "92".
 
For example, if the last 3 digits of the parcel number are "001", your taxing district number would be 92001.  You can also contact the Assessor's Office at 260-248-3109 for assistance in determining which district you should report to.

TOWNSHIP ASSESSORS

Due to legislative changes, township assessors no longer exist in Whitley County.  Therefore, all business personal property is to be reported to the Whitley County Assessor's Office.

Trustees continue to provide township assistance, oversee township fire departments and maintain cemeteries and parks.