Commercial Personal Property Info & Forms

signature Commercial Personal Property..........................


In addition to real property valuations, the assessor is required by Colorado State Statutes to value all business personal property for taxation purposes. Business personal property includes machinery and equipment specific to business purposes. All personal property is taxable in Colorado unless specifically exempt by the Colorado Constitution.
The owner of taxable personal property as of Jan. 1, must file a declaration schedule if the total actual value (market value) of all the personal property is greater than $7,400 per county. All equipment not exempt by law must be listed on the schedule. Assets that are exempt include software and stand alone equipment with an initial cost under $350.

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Declaration Schedules ...........................................

New businesses or owners need to submit a complete listing of all taxable assets the first year and simply submit additions and deletions in following years.
The Assessor Department mails the declaration schedules as soon after January 1 as possible. If the owner does not receive a declaration schedule in the mail, one may be obtained from the Assessor or printed from the Colorado Division of Property Taxation page.

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 Filing Deadline.........................................................


The declaration schedule must be received by the assessor by the April 15th deadline every year.

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Filing Extensions......................................................


The deadline for filing may be extended if, prior to April 15, the assessor receives a written request and $20.00 for a ten-day extension, or $40.00 for a twenty-day extension. The extension applies to all personal property schedules (single or multiple accounts) that a person is required to file in the county.

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Penalties...................................................................


The late filing penalty is $50.00 or 15 percent of the taxes due, whichever is less. If the owner of taxable business personal property fails to file a schedule, state law dictates that the property valuation should be based on the best information available. A best information available (BIA) value is calculated from aggregated asset lists provided by similar businesses.

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 Personal Property Protest Information................


The personal property Notices of Valuation will be mailed around June 15. The owner or agent on the account may protest up to the June 30 deadline. Protests must be received or postmarked no later than June 30.

The Notices of Determination will be mailed on or before July 10. The Notice of Determination outlines the process for continuing the appeal and states that the owner or agent has until July 20 to appeal to the Board of Equalization.