Business Personal Property

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According to Oregon Law, businesses are required to file an annual Business Personal Property Return in every county with which they are operating in. Most people are aware that real property such as land and buildings are subject to annual property taxes, however, some may not know that property tax also applies to Business Equipment and Assets.

Business Personal Property is property that is not affixed to, or part of, real estate and is used for operation of the business. Business Personal Property may include but is not limited to furniture, fixtures, machinery, equipment, office equipment, etc. It also includes property that may not currently be in use, but is still in possession of the business.

All business personal property, unless specifically exempted by statutes, is assessable. Examples of exempt personal property include: intangible personal property (canned software such as Microsoft Office, business records, surveys & designs, etc.), farm animals, farm machinery and equipment, licensed vehicles other than fixed load equipment, and inventories.

Please watch this video for more information.

Business Personal Property Video

The Business Personal Property Returns are mailed the beginning of January. If you have not received yours by mid-January please call the Assessor’s Office. The Return must be signed, dated and postmarked by the US Postal Service no later than March 15th. If postmarked after March 15th, you may be subject to a late filing penalty.

The “Taxpayer Declaration” on the Return MUST be signed. If it is not signed the return will be sent back and may be subject to a late filing penalty.

If you have Questions about your Personal Property Return please contact the Polk County Assessor’s Office at 503-623-1249 or email personalproperty@co.polk.or.us.

See links below for additional information and the Business Personal Property Return.

Tips for Filling out Your Return

New Business: If you are a new business and have not filed a return in previous years, follow the instructions on the return itself.

Closed Business: If you are no longer in business or have no taxable personal property in Polk County complete the “No Personal Property to Report” section on the return and note the date the business closed.

Sold Business: If the business has sold, please complete the “No Personal Property to Report” section on the return. Sign the box on the form if you do not want us to forward the asset list to the new owner. If your business sold after January 1, the seller is responsible for the taxes. Because the assessment date is January 1, assets being reported are from the prior year. Contact the Assessor's Office with questions, or see Frequently Asked Questions below.

Existing Business: If you are an existing business and have filed a return with our office in previous years, enclosed is the most recent record of your personal property on file. Please examine the list carefully. Use the enclosed Additions & Deletions form to list any personal property changes that have occurred. Items fully depreciated for IRS purposes that are still in your possession should still be reported. If you have nothing to add or delete on the asset list, simply check the box at the bottom of the additions and deletions form. You must send the asset list and completed Additions and Deletions form back with your completed and signed personal property return.

Check and Sign Option: If your business did not receive a tax statement last year, and you have not added or subtracted any business equipment check the “If your total assessed value was below $19,000 last year” section. If your business added new equipment prior to December 31st, or if your business received a personal property tax statement last year, DO NOT use this box.

REMEMBER: The Business Personal Property Return must have the “Taxpayer’s Declaration” completed and signed. Please return to the Assessor’s office no later than March 15th. Any return that does not follow these guidelines may be returned and subject to a late filing penalty.

If you had to permanently close your business, PLEASE notify the county using the Business Personal Property Return, and returning it to the county. This way we can make sure our records are up to date and we will not continue to send you a return for the business.

How to submit your return:

1. Mail via US Post
2. Drop off in person
3. Drop off in Tax Office drop box in North end of parking lot
4. Email to personalproperty@co.polk.or.us

For questions, please call 503-623-1249.

State of Oregon - DOR Personal Property Information