Those who own, possess or control taxable personal property in La Plata County valued more than $7,400 on Jan. 1 are required to report the property to the La Plata County assessor by April 15.
Personal property declaration schedules have been mailed to residents, businesses or companies that own, possess or control taxable personal property in La Plata County, which should be completed and submitted to the assessor by the April 15 deadline.
Taxable personal property includes: residential household furnishings used to produce income; equipment, furniture and machinery used by commercial, industrial or natural resource operations; property used in an agribusiness that does not qualify as agricultural pursuant to Colorado Revised Statutes Title 39 Taxation 39-1-102 (1.6) (a); expensed assets with a life greater than one year; fully depreciated assets still in use; personal property in storage subject to IRS depreciation; leasehold improvements; and equipment licensed as a motor vehicle that was not reported on the personal property declaration schedule.
An extension will be granted if, before April 15, the assessor receives a written request and $20 for a 10-day extension or $40 for a 20-day extension.
Those who miss the deadline without an extension will be issued a penalty of $50 or 15 percent of taxes due, whichever amount is lesser.
For those who fail to file a declaration schedule, the assessor will establish a taxable value from the “best information available” and add a penalty of up to 25 percent of the assessed value.
For more information or to have a declaration schedule mailed, call the Assessor’s Office at 382-6231.
