Go Green! - Go Paperless!
We would like to know if you are interested in receiving your Personal Property related correspondence sent to you electronically instead of on paper. This would include your Personal Property Tax Billing Statement, any related notices and subsequent years Personal Property Affidavit.
If you are interested in designating your account as paperless, check the Go Paperless checkbox on the Business Information page after verifying your email address. After designating your account as paperless, future notifications, affidavits, billings, and statements may be sent electronically to your email account.
Filing Deadline is May 15 (Utah Code Ann. 59-2-306-2-a)
Your Personal Property signed statement is due May 15, or 60 days from the statement date if mailed by the County after March 15. There will be no certified mail notification. An account that is not received by the due date is subject to estimation, penalties, and interest.
New for 2017:
Personal Property Exemption Amount $10,300 (Utah Code Ann. 59-2-1115(2)(a))
Effective January 1, 2016 legislative bill SB35 states “The taxable tangible personal property of a taxpayer is exempt from taxation if the taxable tangible personal property has a total aggregate taxable value per county of $10,300 or less.”
If this is your first time filing you must report your assets (Step 2), supplies (Step 3) and equipment you may be leasing (Step 4). If total taxable value is $10,300 or less and you request the exemption, you must select “Yes” on Step 6.
If you have filed previously and your taxable value is $10,300 or less, complete Step 1 then you may go directly to Step 6 to apply for the exemption. You must apply for the exemption each year.
Primary Residential Exemptions for Personal Property in Qualified Residential Property (Utah Code Ann. 59-2-103)
Residential Rental Property household furnishings, furniture, and equipment qualify for the primary residential exemption under 59-2-103 (30) (a) if:
- It is used exclusively within a dwelling unit that is the primary residence of a tenant.
- Owned by the owner of the dwelling unit that is the primary residence of a tenant.
- The exemption does not include property used for transient residential use (59-2-103 (32) (B) (ii).
- Time Shares
- Rehabilitation Centers
- Residential Property used in a short term rental pool.
- Property not used exclusively inside the dwelling unit such as club house furniture and fixtures, exercise facilities, pool equipment and furniture.
Other Important Filing Information:
Acquisition Cost defined (Utah Code Ann. 59-2-108):
Acquisition Cost must include all costs required to put an item into service. These costs include the following costs:
- The purchase price for a new or used item;
- The cost of freight and shipping. Shipping costs includes, loading at origin, unloading at destination, crating, skidding and other applicable costs;
- The cost of installation, engineering, erection, or assembly. Erection and assembly includes foundations, pilings, utility connections, and any other costs.
- Sales and use taxes.
- Any other costs related to putting a personal property item into service are to be included in acquisition costs.
Item of Taxable Tangible Personal Property is defined as (Admin Rule R884-24P-33(1) (d):
A piece of equipment, machinery, furniture, or other piece of tangible personal property that is functioning at its highest and best use for the purpose it was designed and constructed and is generally capable of performing that function without being combined with other items of personal property. An item of taxable tangible personal property is not an individual component part of a piece of machinery or equipment, but the piece of machinery or equipment. For example, a fully functioning computer is an item of taxable tangible personal property but the motherboard, hard drive, tower or sound card are not.
CLASS 28: Short Life Expensed Personal Property (Utah Code Ann. 59-2-108)
Class 28 was created so business property expensed items no longer need to be tracked or itemized. Often expensed items are only tracked for personal property taxes and not for any other reason. Class 28 is an attempt to reduce the need to track these miscellaneous items. The total value associated with these items is declared once, then after the third year it will show as a market value of zero.
Class 28: Non-Capitalized Personal Property is an item of machinery, equipment, furniture, computers, or any other tangible personal property that the acquisition cost has been total expensed or written off in the year of acquisition. Any item of personal property whose acquisition cost is or has been depreciated using MACRS, Straight Line, or ACRS over several years for federal tax purpose does not qualify as being treated as Non-Capitalized Personal Property (Class 28).
“Non-Capitalized Personal Property” is an item of personal property that meets the following criteria:
- Has an acquisition cost of $1,000 or less;
- Is claimed as allowed on a federal tax return as a deductible expense under Section 162 or Section 179, Internal Revenue Code, in the year of acquisition.
- All classes of property qualify for the election of Class 28 (Non-Capitalized Personal Property).
- Any person who elects to designate personal property as “Non-Capitalized Personal Property” under Class 28 would need to provide proof of the acquisition cost of all non-capitalized personal property if selected for State Audit in accordance to Utah Code Ann. 59-2-306(3).
- Any person who sells or disposes of an item of taxable tangible personal property which has been designated as Non-Capitalized Personal Property or Class 28 must continue to pay taxes on such property until it reaches the 4th year on the Class 28 schedule.
- Any person who elects to designate personal property as Non-Capitalized Personal Property or Class 28 property may not appeal the value of the property determined by the Class 28 schedule: Year 1, 75%; Year 2, 50%; Year 3, 25%.
- An election to use Non-Capitalized Personal Property or Class 28 may not be revoked or transferred to any other Recommended Personal Property Valuation Schedule.
Depreciated Property Can Have a Zero Value (Utah Code Ann. 59-2-1115)
Items that have an
acquisition value of $1,000 or less, and have reached the 15% or less level within its associated
depreciation schedule, will be valued at zero (0). These items will be identified on the Update Assets Page
with zero (0) values and a "Yes" in the Exempt column. These qualifying items will remain associated with the account until a
new filing identifies items for deletion (indicating items you no longer have). Review the enclosed schedules to identify
which categories and items are included. An exception to this rule is the Class 28 category
Filing with a Spreadsheet via the Web
Using the enclosed PIN, you can access your account on the web, file on the web, and even apply
for an exemption on the web. You also have the option of exporting your information into a
spreadsheet, modifying the spreadsheet, and then importing the spreadsheet back to your account
via the internet. Using your PIN and Account Number, you can enter and exit your account as
often as you like until you select the submit option. If you maintain the spreadsheet format provided, this
import/export option will allow you the ability to utilize a desktop spreadsheet to complete this task.
Be sure to print or save a copy of any pages you would like to retain before you submit your filing.