150-553-004 (Rev. 10-22-21) 3
What should I know about filing this return?
1
First-time filer—Send your original return with a complete list
of assets, non inventory supplies, and any attachments to the
county assessor. (ORS 308.290 (3)(a)). Complete a separate return for
each location in each county in which you have personal property.
2
Check and sign—If your county assessor did not send a property
tax bill last year because your total assessed value was below
$19,000, and you have not purchased or added any taxable personal
prop ert y, check the box, sign and date the Taxpayer’s declaration,
and submit the return to your county assessor. If you have purchased,
added, or disposed of any taxable personal property, report it on this
form and return it to your county assessor (ORS308.250).
3
No property to report—If you don’t have taxable personal prop-
erty in the county, and/or you closed your business, attach a full
explanation. Please tell us what you did with the property you reported
last year. Sign and date the Taxpayer’s declaration, and send it to the
county assessor before the filing deadline.
4
Multiple businesses—If you have multiple businesses within the
county, you must complete a return for each business. Check the
box and provide the name and location of each business.
What personal property is taxable?
Taxable personal property includes machinery, equipment, and
furniture used previously or presently in a business, including
any property not currently being used, property placed in storage,
property held for sale, expensed items, or items fully depreciated by
federal standards.
A reminder . . .
What reporting date should I use for the information
requested on this return?
This return must show all taxable personal property which you
own, possess, or control as of 1:00 .., January 1 (ORS 308.250).
When should I file?
File personal property returns with your county assessor on or
before March 15.
What if I file late?
The penalty is 5 percent of the tax owed if the return is filed after
March 15, but on or before June 1. The penalty increases to 25per-
cent of the tax owed if the return is filed after June 1, but on or
before August 1. After August 1, the penalty is 50 percent of the
tax owed (ORS 308.296).
What personal property isn’t taxable?
• Intangible personal property: Money held at interest, bonds, notes,
shares of stock, business records, surveys and designs, and the mate-
rials the data is recorded on (paper, tape, film, etc.) (ORS 307.020).
• Computer software (excluding software integrated in equipment).
• Household goods, furniture, tools, and equipment exclusively for
personal use in and around your home (ORS 307.190).
• Inventory held for resale (ORS 307.400).
• Livestock (ORS 307.394).
• Licensed vehicles and equipment other than fixed load and mobile
equipment. Examples of taxable fixed load and mobile equipment
are shown on the back page (ORS 801.285).
• Farm machinery and equipment used primarily in the preparation
of land, planting, raising, cultivating, or harvesting farm crops or
feeding, breeding, management, and sale of, or the produce of,
livestock, poultry, fur-bearing animals, bees, dairies, agricultural, or
horticultural use (ORS 307.394).
• Skyline and Swing Yarders (ORS 307.831).
• Environmentally Sensitive Logging Equipment. Equipment that is
originally manufactured after 1992 and is used or held for use in logging
or forest management operations involving timber harvest, including
the felling, bucking, yarding, loading or utilization of timber, logs or
wood fiber in the forest, or used or held for use in reforestation, forest
vegetation restoration, site preparation, vegetation control, stand and tree
improvement or thinning. Equipment that is specifically designed for
activities related to water quality or fish and wildlife habitat protection in
the forest; or consisting of excavators used or held for use in logging road
construction, maintenance, reconstruction or improvements, including
the closing or obliterating of existing forest roads (ORS 307.827).
What happens if I falsify the information on the return?
Any person who furnishes false information is subject to criminal
penalties [ORS 305.815 and 305.990(4)].
What happens after the return is filed with the county?
Your return will remain confidential at all times. In some cases, an
appraiser may inspect your property. On or before October 25, you will
receive a tax statement showing the value of your personal property and
the tax due (ORS 311.235).
When do the taxes become my responsibility?
On July 1, personal property taxes become a lien against the assessed
property and any taxable property owned by or in possession of the
person in whose name the property is assessed.
Keep a copy of the return and instructions for your records.
This return is subject to audit.
Filing deadline is March 15, 2022.
General information
Instructions for completing your personal property return
At your request, the assessor’s ofce will assist you in completing your return.
Schedule 1—Leased or rented personal property
Report all leased or rented items as of January 1.
If you don’t lease equipment to or from others, write “None.”
Equipment leased to others. Attach a list showing name and address
of lessee, situs of equipment, description, date of acquisition, length
of lease, and original cost. If a manufacturer, report real market value
rather than original cost.
Equipment leased from others. Attach a list showing name and address
of lessor, situs of equipment, description, date of acquisition, and origi-
nal cost. If original cost isn’t known, give length of lease and amount
of the monthly payment. Advise if included with other assets to avoid
duplicate assessment.
Item 3. Who is responsible for paying the tax? Check either lessor or
lessee.
Schedule 2—Noninventory supplies
As of January 1, report total cost on hand of any taxable item that won’t
become part of finished goods or won’t be directly sold to customers.
For example:
General office supplies: Copy paper, envelopes, pens, stationery, etc.
Maintenance supplies: Cleaning supplies, axle grease, etc.
Operating supplies: Straws, paper cups, sacks, gasoline, diesel, etc.
Spare parts: Repair parts, computer parts, automotive parts, etc.
Other noninventory supplies: Items not covered by the other categories.
Schedule 3—Floating property [ORS 307.190(2)(c)]
Report floating homes, docks, and boathouses. Don’t include personal
licensed boats used only for personal use.
All other vessels
Report houseboats (self-propelled) used in rental businesses and other
required floating vessels.