INSTRUCTIONS: This form must be filed with the Township Assessor, if any, or County Assessor of the county in which the property is located not
later than May 15, 2020, unless an extension of up to thirty (30) days is granted in writing. Please type or print. A Form 104 must be filed
with this return. Contact information for the Assessor is available at http://www.in.gov/dlgf/2440.htm.
SCHEDULE A - PERSONAL PROPERTY +
FINAL ASSESSED VALUE =
Name and address of owner(s) of land share on rent basis
3. Type of farm: Livestock:
4. Was any land removed from production since the last assessment date?
FARMER'S TANGIBLE PERSONAL
PROPERTY ASSESSMENT RETURN
State Form 50006 (R22 / 12-19)
Prescribed by the Department of Local Government Finance
1. Did you own, hold, possess or control any leased or other Depreciable Personal Property on January 1? If yes, report it on Page 3 or file the Form 103-N or 103-O
(See 50 IAC 4.2-8-3 & 4). Note: Failure to properly disclose lease information may result in a double assessment.
Name of taxpayer
Name under which business is conducted
Address where property is located (number and street, city, state, and ZIP code)
Type of operation (grain, dairy, etc.)
Name and address to which Assessment and Tax Notice is to be mailed (If different than above)
* NAICS - North American Industry Classification System - A complete list of codes may be found at www.census.gov. Note: Number appears on your federal income tax return.
** An individual using his/her Social Security number as the federal identification number is only required to provide the last four (4) digits of that number. IC 4-1-10-3
In completing a personal property return for a year, a taxpayer must make a complete disclosure of all information relating to the value, nature or location of personal property
owned, held, possessed or controlled on the assessment date. [IC 6-1.1-3-9 (a)].
Failure to file a return on or before the due date as required by law will result in the imposition of a twenty-five dollar ($25) penalty. In addition, if return is not filed within thirty
(30) days after such return is due, a penalty equal to twenty percent (20%) of the taxes finally determined to be due with respect to the property which should have been
reported will be imposed. A personal property return is not due until the expiration of any extension period granted by the Township Assessor or County Assessor under IC
6-1.1-3-7(b). If the total assessed value that a person reports on a personal property return is less than the total assessed value that the person is required by law to report and
if the amount of the undervaluation exceeds five percent (5%) of the value that should have been reported on the return, then the County Auditor shall add a penalty of twenty
percent (20%) of the additional taxes finally determined to be due as a result of the undervaluation.
This information would include, but not be limited to, completion of the heading and related information, and answers to all questions on the face of the return, and entries on all
of the appropriate lines of Schedule A. If such information is not provided, the taxpayer will be contacted and directed to provide that information. In addition, a penalty of twenty
five dollars ($25) shall be imposed. [IC 6-1.1-37-7(d)]
JANUARY 1, 2020
For Assessor's Use Only
Federal Identification number **
DLGF taxing district number
DLGF taxing district name
Township
County
Total number of acres owned
Signature of authorized person
Title
E-mail address
Printed name of authorized person
Signature of person preparing return, if different than authorized person
Under penalties of perjury, I hereby certify that this return (including any accompanying schedules and statements), to the best of my knowledge and belief, is true, correct, and
complete; if applicable, reports all tangible personal property subject to taxation owned, held, possessed or controlled by the named taxpayer in the stated township or taxing district
on the assessment date, as required by law; and is prepared in accordance with IC 6-1.1 et seq., as amended, and regulations promulgated with respect thereto.
SIGNATURE AND VERIFICATION
$
$
$
$
$
$
Date (month, day, year)
Telephone number
( )
SUMMARY (round all numbers to nearest ten dollars)
REPORTED BY TAXPAYER CHANGE BY ASSESSOR
CHANGE BY THE COUNTY BOARD
Page 1 of 4
NAICS Code number *
Total number acres leased or rented
Number of acres Land Is now used for:
Dairy Beef Hogs Feeder Pigs
GRAIN:
Total number of acres
raised previous year.
Corn Soybeans Wheat
Specify other livestock:
Specify other (Grains, Forage, Etc.):
Yes No
2. Total number of acres operated Total number acres farmed on share basis
Other
Printed name and contact information of preparer
SECTION I
SECTION II
SECTION IV
SECTION III
NOTE: For taxpayers with less than $40,000 in acquisition costs to report within the county, legislation was passed in 2019 which exempts this property. If
you are declaring this exemption, check this box, enter the total acquisition cost of your personal property in the county, and complete only sections I, II, and
IV of this form. If you are declaring this exemption through this form, you also need to file a Form 104.
$ ________________________
RETURN THIS FORM TO THE APPLICABLE ASSESSOR BY MAY 15, 2020.
An exemption granted under IC 6-1.1-10 or any other statute supersedes this exemption. In other words, a taxpayer whose personal property is exempt
because the taxpayer applied for and was granted an exemption by the county must follow all applicable procedures for the approved exemption, which
may include fully completing the personal property return.
FORM 102
PRIVACY NOTICE
This form contains information
confidential pursuant to IC 6-1.1-35-9.
Yes No
Yes No
5. Do you have property in multiple locations? 6. If property is in more than one location, what is the address for the location where the sum of acquisition costs for the property is greatest?
Reset Form
FORM 102
See 50 IAC 4.2-4
TANGIBLE PERSONAL PROPERTY
CONFIDENTIAL
JANUARY 1, 2020
YEAR OF ACQUISITION COLUMN A COLUMN B COLUMN C COLUMN D
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
TOTAL POOL NUMBER 1
POOL NUMBER 1:
(1 TO 4 YEAR LIFE)
TOTAL COST OR
BASE YEAR VALUE
ADJUSTMENTS
**
Detail Must Be Shown
On Form 106
ADJUSTED COST T.T.V.% TRUE TAX VALUE
$
$
$
$
$
$
$
$
$
$
$
$
POOL NUMBER 2: (5 TO 8 YEAR LIFE)
POOL NUMBER 3: (9 TO 12 YEAR LIFE)
POOL NUMBER 4: (13 YEAR AND LONGER LIFE)
TOTAL POOL NUMBER 2
TOTAL POOL NUMBER 3
1-2-19 To 1-1-20
1-2-18 To 1-1-19
1-2-17 To 1-1-18
Prior To 1-2-17
1-2-19 To 1-1-20
1-2-18 To 1-1-19
1-2-17 To 1-1-18
1-2-16 To 1-1-17
3-2-15 To 1-1-16
3-2-14 To 3-1-15
Prior To 3-2-14
1-2-19 To 1-1-20
1-2-18 To 1-1-19
1-2-17 To 1-1-18
1-2-16 To 1-1-17
3-2-15 To 1-1-16
3-2-14 To 3-1-15
3-2-13 To 3-1-14
3-2-12 To 3-1-13
3-2-11 To 3-1-12
3-2-10 To 3-1-11
Prior To 3-2-10
1-2-19 To 1-1-20
1-2-18 To 1-1-19
1-2-17 To 1-1-18
1-2-16 To 1-1-17
3-2-15 To 1-1-16
3-2-14 To 3-1-15
3-2-13 To 3-1-14
3-2-12 To 3-1-13
3-2-11 To 3-1-12
3-2-10 To 3-1-11
3-2-09 To 3-1-10
3-2-08 To 3-1-09
Prior To 3-2-08
65
50
35
20
40
56
42
32
24
18
15
40
60
55
45
37
30
25
20
16
12
10
40
60
63
54
46
40
34
29
25
21
15
10
5
LINE
1
2
3
4
5
6
7
(Round all figures below to nearest dollar)
To t a l cost of Tangible Depreciable Personal Property - 50 IAC 4.2-4-2
Add: cost of all Depreciable Personal Property still in use but written off
Deduct exempt property: (See 50 IAC 4.2-11.1)
Industrial Air Purification or Industrial Waste Control Facilities - Attach Form 103-P
Airplanes Subject to Excise Tax
Vehicles Subject to Excise Tax
Total cost of Exempt Property (Line 3 + 4 +5)
To t a l cost of Assessable Depreciable Personal Property (Line 1 + 2 Less 6. Must agree with Line 47)
$
$
$
Number of units
Number of units
$
TOTAL POOL NUMBER 4
Page 2 of 4
$
$
$
$
SECTION V
47
48
49
50
51
52
53
54
55
56
57
58
Total Cost All Pools (Column A)
Total Column B Adjustments Per Form 106
Total Column C Adjusted Cost ALL POOLS
Total Column D True Tax Value of Pools 1, 2, 3 and 4
30% of Line 49, Column C
Greater of Lines 50 or 51 (Must Not Be Less Than 30% of Line 49) 50 IAC 4.2- 4-9
Additions @ True Tax Value: Equipment Not Placed in Service at Cost
Permanently Retired Equipment Per Form 106 - 50 IAC 4.2-4-3 (d)**
Total Additions to Line 52 True Tax Value (Line 53 + Line 54)
Total True Tax Value before adjustment for Abnormal Obsolescence (Line 52 + Line 55)
Abnormal Obsolescence adjustment Per Form 106 - 50 IAC 4.2-4-8
Total True Tax Value of Personal Property other than inventory (To Page 1, Form 102 Summary) (Line 56 - Line 57)
$
$
$
$
$
$
$
$
Cost $
The total of Permanently Retired Equipment is to be deducted in full in Column B above. The True Tax Value of such is to be computed on the Form 106, and recorded on
Line 54.
* *
X 10% =
$
$
JANUARY 1, 2020
Page 3 of 4
Information of Not-Owned Personal Property
NOTE: This section is for the reporting of five or less lease agreements. For other leases, the Form 103-N (for the lessee or the person in possession)
and the Form 103-O (for the lessor or the owner of the equipment) should be utilized. For more information on the reporting of leased equipment, refer
to 50 IAC 4.2-8.
NOTE: Failure to properly disclose lease information may result in a double assessment. (IC 6-1.1-2-4(a))
Please check one only:
Operating Lease which is assessable to the owner of the equipment (not assessed on this return).
Capital Lease which is assessable to the person in possession and is assessed on this return.
Name and Address of Owner
Cost, if
Known
Reported
on Line
Number, if
Applicable
Model
Number and
Description
Date of
Lease
(month, day, year)
Location of Property
SECTION VI
0.00
Page 4 of 4
Filing Basics:
For the assessment date of January 1, 2020, IC 6-1.1-3-7.2 was amended to allow an exemption for taxpayers with less than
$40,000 in acquisition costs to be reported within a county. Failure to timely file a personal property tax return with the
applicable assessor declaring the exemption will result in a $25 penalty. For more information, refer to this link:
http://www.in.gov/dlgf/7576.htm.
Taxpayers may request up to a thirty (30) day extension of time to file their return. The written request should be
sent to the Assessor before the filing deadline of May 15, 2020, and should include a reason for the request.
The Assessor may, at their discretion approve or disapprove the request in writing.
Personal property must be assessed in each taxing district where property has a tax situs.
Inventory located in the State of Indiana is exempt and is not required to be reported per IC 6-1.1-1-11(b)(3).
It is the responsibility of the taxpayer to obtain forms from the Assessor and file a timely return. The forms are also
available on-line at the department’s website, www.in.gov/dlgf.
If you hold, possess, or control not-owned personal property on the assessment date, you have a liability for the taxes
imposed for that year unless you establish that the property is to be assessed to the owner. This is done by completing
a Form 103-N, attaching it to the Form 102, and filing it with the Assessor. A taxpayer declaring the exemption on page
one of this form may, as deemed necessary by the applicable assessor, need to file Form 103-O or 103-N, as
applicable, to verify that he is the appropriate taxpayer to claim the exemption.
NOTE: Failure to properly disclose lease information may result in a double assessment. (IC 6-1.1-2-4(a))
Taxpayers who discover an error was made on their original timely filed personal property tax return have the right to
file an amended return. The amended return must be filed within twelve (12) months of the due date or the extended
due date (if up to a thirty (30) day extension was granted) of their original return.
Frequently Asked Questions:
1. Will my local Assessor fill this form out for me?
Indiana’s personal property tax system is a self-assessment system. An Assessor can offer assistance with the filing;
however, an authorized person representing the farming operation must sign the form under penalties of perjury that it is
true and correct so the responsibility of filing an accurate return remains with the taxpayer.
2. I would like to report all of my equipment in the township where I reside even though it is actually located in
different townships within the county. Can I do this?
No, a personal property return must be filed in each taxing district where the property has tax situs.
3. Why is the grain leg assessed as personal property and the grain bin that it is attached to assessed as real
property?
The use of the asset is the key. The grain bin, used for storage, is classified in 50 IAC 4.2-4-10 as real property while the
legs and other loading/unloading systems are classified as part of the machinery and equipment which is assessed as
personal property. The same theory applies to automated feeding and watering systems in livestock or poultry buildings
since their use pertains to the operation and not the structure of the building.
4. Why do I have to report my fully depreciated equipment?
Depreciation expenses are claimed for income tax purposes while assets are assessed for property tax purposes until the
asset has been retired from use.
5. How can I find contact information for the various county offices (Assessor, Auditor, or Treasurer) throughout
the State of Indiana, locate forms or learn more about Indiana’s personal property tax system?
Go to the Indiana Department of Local Government Finance’s website at www.in.gov/dlgf.
Contact information for the Assessor is available at http://www.in.gov/dlgf/2440.htm.