Property Tax Assessment Date

Personal property tax assessment date will be changing. Currently, personal property taxes are assessed on March 1 and the returns are due on May 15. Effective January , 2016, personal property taxes will now be assessed on January 1 and the return due date will continue to be May 15.

Additionally, local governments will be able to exempt business personal property that is less than $20,000 in cost. Each county in Indiana will determine if they want to enact this exemption so it will be totals on a county by county basis. As of yet, none of the counties in Indiana have enacted the exemption. If a county does decide to enact this legislation, taxpayers with assets totalling less than $20,000 in cost may not have to file a property tax return, but they will still have to file a certification form stating they are not required to file a tax return.