Personal Property

BUSINESS PERSONAL PROPERTY

PLEASE NOTE RECENT CHANGES TO OUR FILING POLICY:

If a taxpayer has someone preparing a return for them, please be sure that a letter of authorization or Power of Attorney is attached to the return. This ensures us that the person signing the forms is authorized by the taxpayer to do so and eliminates other issues.

Hendricks County will no longer accept $0 filings for an active entity. If assets used for the business are also personal use items, we ask that half the original cost of the assets be reported on the return. 

All 2018 personal property returns are due May 15th, 2018.

We will begin accepting returns on January 1, 2018. 

** Find blank forms under Forms to File **

Forms can be mailed to:                                                                                                                                           Hendricks County Assessor's Office                                                                                                                         Attn: Personal Property                                                                                                                                         355 S Washington St #201                                                                                                                                   Danville, IN 46122

Or emailed to:

    agonzalez@co.hendricks.in.us

What is Business Personal Property?

Personal property is tangible property that is used in a 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. This property includes tools, machinery, electronics, furniture, appliances, racking & shelving, cabinetry, signage, farm equipment, etc… Inventory, supplies, and motorized vehicles are not required to be reported on business personal property returns.

Pursuant to 50 IAC 4.2-2-1, every person, firm, company, partnership, association, corporation, fiduciary, or individual owning, holding, possessing, or controlling personal property with a tax situs within the state on January 1st of any year is required to file a personal property tax return on or before May 15th of that year. *Non-profit organizations are also required to file returns.

Business personal property is a self-assessment system. Taxpayers are required to obtain the forms and file the return to the correct assessing official by May 15 of each year.

If your business is closed or is closing, please contact the Assessor’s office as soon as possible. We are unaware of a closing until the owner/taxpayer notifies the office directly. We do not receive closing paperwork from the State. The business will continue to be taxed until we are notified.

Forms to File

Forms can be found below by clicking on the form name, in the Assessor's office, or on the Department of Local Government Finance website www.in.gov/dlgf/4971.htm.  

Form 104 – Non-confidential – Every taxpayer must file the Form 104, unless filing an under $20,000 exemption return. The Form 104 is a cover sheet for the other personal property forms.

Form 102 – Confidential – Farmer’s Tangible Personal Property – This form is used to report farmer’s tangible personal property.

  - Farm Assessment Worksheet (2018)

Form 103-Short or Form 103-Long – Confidential – Each taxpayer must file either a 103-Short or 103-Long, unless filing a Form 102. Use a  Form 103-Long if:

  • You are a manufacturer or processor;
  • Your business personal property assessment is $150,000 or more;
  • You wish to claim any exemptions or deductions (other than the enterprise zone credit); or
  • You are claiming any special adjustments such as equipment not placed in service, special tooling, permanently retired equipment or abnormal obsolescence.

Less than $20,000 tax exemption – Confidential – Use either a Form 102, 103-Short, or 103-Long to file the less than $20,000 exemption. Read the NOTE at the top of the form and fill out the required sections.

 **Please note: the Certification of Eligibility for Personal Property Exemption, or Notarized Certification, will no            longer be accepted.

Form 106 – Confidential – This form can be used if a taxpayer is disposing of, adding new, or making changes to equipment. This helps our office to promptly identify and understand any changes being made.

Form 103-N – Confidential - Information Return of Not Owned Personal Property – Report all personal property not owned by this taxpayer but held, possessed or controlled by this taxpayer on January 1 of the current assessment year, in Schedule I or Schedule II.

Form 103-O – Confidential – Information Return of Owned Personal Property – Report all personal property owned by this taxpayer but held, possessed or controlled by another person on January 1 of the current assessment year, in Schedule I or Schedule II.

Form 103-T – Confidential – Return of Special Tools

Form 103-IT – Confidential – Claim for Exemption of Enterprise Information Technology Equipment

Form 103-P – Confidential - Claim for Exemption of Air or Water Pollution Control Facilities

Form 103-ERA – Confidential – Schedule of Deduction from Assessed Valuation Personal Property in Economic     Revitalization Area

Less than $20,000 Tax Exemption

IC 6-1.1-3-7.2 provides an automatic exemption for a taxpayer’s business personal property in a county if the acquisition cost of that taxpayer’s total business personal property in the county (before depreciation) is less than $20,000 for the assessment date.

A taxpayer claiming this exemption MUST FILE a Form 102, 103-Short, or 103-Long; only the front page is required to be filled out. A Form 104 does not need to be filed for this exemption.**The notarized certification will no longer be accepted.

If a taxpayer qualifies for this exemption and has personal property in multiple taxing districts within the county, the taxpayer can file one form for all the districts, rather than a separate form for each.

The exemption form must be submitted or postmarked by May 15th of each year in order to avoid a $25 penalty.

Filing Due Dates

Business personal property returns are due by May 15th of each year, unless the 15th lands on a weekend, then it would be due the following Monday. Forms must be submitted or postmarked by May 15th.

Hendricks County does NOT grant filing extensions due to strict deadlines.

A taxpayer has the right to file an amended return for a year if that year’s personal property return was filed on time. Amended returns must be submitted or postmarked by May 15th of the following year (12 months after the original filing due date).

Failure to File a Return

If a taxpayer fails to file a return, the Assessor’s office will send a Form 113/PP Notice of Assessment/Change. The taxpayer can then:

  1. File a return- the taxpayer has 30 days from date on the notice to file a return to the Assessor’s office.
  2. Appeal – the taxpayer has 45 days from the date on the notice to file an appeal.
  3. Do nothing – After the 30/45 day deadlines are up, the assessment on the Form 113 will stand and taxes, with penalties, will be due based on that assessment.

If a taxpayer fails to file a timely personal property return, penalties will be applied:

  • $25 penalty if filed within 30 days after the May 15th due date
  • $25 penalty plus 20% of the amount of taxes owed if filed after the 30 days (these same penalties apply to a return not filed at all)
  • $25 penalty if late filing/failure to file a less than $20,000 tax exemption return
  • $25 penalty if late filing/failure to file a return for an entity that is exempt per Form 136 tax exemption

For Your Information

  • You can find more information about business personal property on the Department of Local Government Finance website www.in.gov/dlgf/7576.htm
  • NAICS codes are required on the returns (The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy). Taxpayers can find this code at http://www.census.gov/cgi-bin/sssd/naics/naicsrch.       
    1. Enter nature of business or a keyword in the 2017 NAICS Search box
    2. Find the code that best describes the business
  • All personal property that is used for the business should be reported whether it was purchased by the taxpayer or given to them. The original purchase price will need to be estimated.
  • All businesses and farms are required to file personal property returns regardless of the size of the business.
  • It is no longer required to file a duplicate return if filing a Form 103-Long.
  • If someone requests a copy of a return, the Assessor’s office can only do so if the person making the request signed the return. That person must come into the office and show I.D.
  • If a taxpayer would like a stamped copy of their return sent to them, please include a self-addressed, stamped envelope along with the return that is mailed to our office.
  • All returns should be sent to the Hendricks County Assessor’s office. If not sent to the correct office on time, a $25 penalty will be imposed. 

ANNUALLY ASSESSED MOBILE HOMES

Mobile home reports can be mailed to:                                                                                                                    Hendricks County Assessor's Office                                                                                                                    Attn: Personal Property                                                                                                                                      355 S Washington St #201                                                                                                                                Danville, IN 46122

 Or emailed to:                                                                                                                     agonzalez@co.hendricks.in.us

Affidavit of Destroyed or Removed Property - Use this form if you plan to destroy or remove a mobile home. Please bring the completed form to the Assessor's office so that we can date stamp it and make you a copy.

Contact Us

355 S Washington St
#201
Danville, IN 46122
Get Directions

  • Phone: (317) 718-6044
  • Staff Directory
  • Office Hours:
    Mon-Fri 8:00 a.m. - 4:00 p.m. Except for Holidays

In this Department

More Information