What Type of Personal Property is Assessed?
Unless specifically exempted, all personal property in Idaho is subject to assessment and taxation. Refer to Idaho Code 63-302
Some examples of taxable personal property items used in a business are:
· Office Furniture (desks, filing cabinets and chairs)
· Professional Libraries
· Leased Equipment
· Machinery and Equipment
· Tools (including small hand tools)
· Signs and Telephones
· Unregistered Vehicles
· Lease Hold Improvements such as carpet, plumbing and electrical additions or remodeling that has been done to a leased building to conduct the business.
· Computers (including software), Typewriters and Office Machines
· Medical/Scientific Equipment and Instruments.
What Type of Personal Property is exempt?
Examples of Personal Property that may be exempt are as follows:
· Personal Effects
· Household items except telephones, computers and furniture and fixtures used for the business
· Non-business Apparel
· Registered Motor Vehicles
· Farm Machinery and Equipment exclusively used for harvesting or planting a crop. Refer to Idaho Code 63-602EE
· Business Inventory
· Equipment used for education (Public or Charter school exemption must be filed every year)
· Facilities for water or air pollution control.
· Property owned by fraternal, benevolent or charitable corporations that has received a formal approval of exemption from the Bonneville County Board of Commissioners.
· Other exemptions allowed by law
What is Transient Personal Property?
Transient personal property is unregistered farming, construction, logging and mining equipment which spend more than 30 consecutive days in more than one county in the state during the same year. If you own transient personal property, you should consider the county in which you maintain a residence or usual place of business as your home county. Refer to Idaho Code 63-313
What is a Lien Date?
The lien date for real property and most personal property is January 1st. For personal property brought into Idaho after January 1st, the lien date is the first day in which the property was brought into the state or put into service.
Who assesses personal property in Bonneville County?
The Bonneville County Assessor’s Personal Property Department.
How does the County Assessor know what to assess?
If you have taxable business personal property in Bonneville County, you are required to report it to the Bonneville County Assessor. This is done by using a Personal Property Declaration, a form available from the Bonneville County Assessor's Office. The form contains sections for listing personal property by make, manufacturer, year of manufacture, serial number, year acquired and cost, including installation if required.
When must I report my personal property?
You must return your personal property declaration to the Bonneville County Assessor by the date indicated on the declaration, or no later than March 15th. A different deadline may be given if your personal property is missed or your business starts after January 1st. You should file the declaration for transient personal property on or before the first Monday of November of each year with the assessor of your home county. If you own transient personal property, you should notify the county assessor within ten days of entering a county other than the property's home county.
At what value is my personal property assessed?
Business personal property is assessed by taking the original purchase price, times a replacement trend, minus accrued depreciation to arrive at market value. The Idaho State Tax Commission does provide depreciation guide lines for each property type.
The value of personal property is included on the assessment notice mailed to you. When you get your assessment notice, please review it carefully to ensure all the information is accurate. Assessment notices are usually mailed by the first Monday in June. However, if you start a new business after January 1st or have transient personal property, the assessment notice for your personal property is usually mailed in December. Refer to Idaho Code 63-308
What if I disagree with the assessed value of my personal property?
Contact the Bonneville County Assessor's Office if you disagree with the assessed value. The Assessor's Office maintains a file of information on your personal property. If you have questions about your assessment, you should review this information with an appraiser to ensure its accuracy. If you cannot resolve your disagreement with the appraiser, you may appeal to the Bonneville County Board of Equalization, which consists of the County Commissioners. Your appeal must be filed with them by the fourth Monday in June. If you received your assessment notice in the latter part of the year, your appeal must be filed in January. Please be prepared to document your reasons for requesting a change in your property's assessed value. You will need to prove that the appraiser's value is not the current market value of the personal property. If needed, you can obtain an appeal form from this link, the Bonneville County Assessor or the Commissioners' Office.