Business Personal Property
***Please email signed, scanned declarations and Excel files to email@example.com vs. mailing hard copies. You will receive a receipt confirmation email in response.***
Business 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 furniture, fixtures, 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 January 1st must file a declaration schedule if the total actual value (market value) of all the personal property is greater than $50,000 (HB 21-1312) per county effective the 2021 tax year. 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 of $350 or less.
Declaration SchedulesThe 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 by emailing firstname.lastname@example.org or a blank form may be printed from the Colorado Division of Property Taxation page (Personal Property - form DS 056/DS 056S or Renewable Energy Property - form DS-058).
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.
In the listing, please include the following:
- Asset ID No. (if available)
- Asset Category
- Description of the item
- Date acquired
- Total installed cost (including freight, sales tax, installation cost)
The filing deadline is April 15th. Declaration schedules must be received or postmarked by the April 15th deadline every year OR by email (with Excel listing, if applicable) to email@example.com before midnight on April 15th. For years in which the 15th falls on a weekend or holiday, schedules are due the following business day.
Filing Extensions & Penalties
The deadline for filing a declaration may be extended if, prior to April 15, the assessor receives a written request by mail or email. The fee is $20.00 for a 10 day extension or $40.00 for a 20 day extension payable to The City and County of Broomfield. The extension applies to all personal property schedules by owner per county.
Failure to file a declaration by the deadline will result in a fee of $50.00 or 15% 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 be based on the best information available. A best information available (BIA) value is calculated from aggregated asset lists provided by similar businesses.
Personal Property Values & Appeal Info
The personal property Notices of Valuation will be mailed at or around June 15th. Please note that business personal property values on our Eagle Property Search are not updated until July 1st. If you would like a PDF version of the NOV or account worksheet emailed to you, please email firstname.lastname@example.org with the account/schedule number(s).
The owner or agent on the account may appeal up to the June 30th deadline. Appeals must be received or postmarked no later than June 30th.
Notices of Determination will be mailed on or before July 10th. The Notice of Determination outlines the process for continuing the appeal and states that the owner or agent has until July 20th to appeal to the Board of Equalization.