Every owner or holder of personal property must report the items on the form provided by the county assessor by March 1
Being lax about personal property tax assessments can cost a taxpayer up to $100 in fines, according to assessors who say thousands of the forms have not been returned.
Anyone who hasn't received and returned a personal property tax assessment list needs to contact the assessor in their county.
Every owner or holder of personal property must report the items on the form provided by the county assessor by March 1. All taxable personal property which is owned or held by the person or business on Jan. 1, 2009, needs to be reported.
“Every year, a few property owners forget to return their lists,” Camden County Assessor Eddie Whitworth said. “So we make every effort to remind people to return them on time.”
That includes sending out reminders if the lists aren't returned.
Residents who forget to turn in their lists before the deadline could face a penalty.
“Penalties range from $10 to $100 depending upon the value of the property and the statutes provide the assessor with almost no discretion to waive the penalties,” Whitworth said.
Property owners should also make a copy of the completed form to keep for their records, he said.
Property owners or lessees who have not received a list should contact their local county assessor’s office for a form.
Q What are the assessment rates for personal property?
A Cars, trucks and boats are assessed at 33.3 percent. Farm equipment and livestock are assessed at 12 percent. Antique cars are assessed at 5 percent. Grain is assessed at .05 percent.
Assessor’s county offices
Camden County 346-4440 ext. 1269
Miller County 369-1960
Morgan County 378-5459