Property in more than one Taxing District - Due to varying tax rates, a taxpayer who has property in two or more taxing districts within the same
township must have separate assessments for each district covering only property located in that district. (IC 6-1.1-3-10)
Were expenditures made since the last assessment date for improvements on any real property owned, held, possessed, controlled or occupied by the
taxpayer in the township wherein this return is filed? Yes No
If Yes, attach a statement setting forth the name of owner, location of the real property, an explanation of the nature, cost, date on which construction of
improvements was begun, and date on which construction was completed. If not completed as of January 1, state the percentage completed at that
time. (IC 6-1.1-5-13)
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FILING REQUIREMENTS
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 ($25.00) penalty. In addition, if a
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.
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)], and information relating to improvements
made since the preceding assessment date to real property owned, held, possessed or occupied. (IC 6-1.1-5-13) This information would include, but
not be limited to, completion of the heading and related information, and answers to all questions and entries on all of the appropriate lines on the face
of the return. 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 ($25.00) shall be imposed. [IC 6-1.1-37-7(d)]
The above penalties are due on the property tax installment next due for the return, whether or not an appeal is filed pursuant to IC 6-1.1-15-5 with
respect to the tax due on that installment. [IC 6-1.1-37-7(f)]
PENALTIES FOR FAILURE TO FILE COMPLETE AND ACCURATE FORMS
Every person owning, holding, possessing, or controlling personal property in Indiana on January 1 is required to file a form by May 15.
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 and should include a reason for the request. The Assessor may, at his or her 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 appropriate personal
property form, and filing it with the Assessor.
NOTE: Failure to properly disclose lease information may result in a double assessment.
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.
FILING BASICS
