This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Personal Property Form 2023 In Utah
Instant download
Description
Free preview
Form popularity
FAQ
Recent Trends in Tangible Personal Property Taxation State2006 Personal Property2017 Personal Property California 4.11% 5.20% Colorado 12.06% 6.90% Connecticut 6.09% 13.28% Florida 7.43% 7.00%29 more rows •
Personal property is primarily property that is used in the operation of a business, mobile homes, aircraft, and motor vehicles. All non-exempt, tangible business personal property is valued and assessed annually by the Personal Property Division of the Assessor's Office.
Your property tax bill is calculated by multiplying your taxable property value by each taxing entity's tax rate and then summing those amounts. Who determines property values in Utah county? The value and property type of your home or business property is determined by the Utah County Assessor.
The Utah State Tax Commission defines tangible personal property as material items such as watercraft, aircraft, motor vehicles, furniture and fixtures, machinery and equipment, tools, dies, patterns, outdoor advertising structures, and manufactured homes.
Where to Report Personal Property on Your Taxes. Claim the itemized deduction on Schedule A – State and local personal property taxes (Line 5c). Taxes you deduct elsewhere on your return — like for a home office or rental — don't qualify for this deduction.
More info
Make checks payable to the Summit County Assessor, 60 North Main, PO Box 128 Coalville, UT 84017. New businesses should register with the Assessor when taking out a business license to avoid assessment of escaped property taxes.2023 Business Personal Property tax filing is now available online. Personal Property Tax due. Enter this amount on Line 7 of the payment coupon. The Utah County Assessor's office classifies property, sets taxable values, and supports tax rate and collection processes. Fixtures; machinery; equipment; supplies. All tangible personal property is taxable unless exempted. Utah State Tax Commission Administrative Rule R884-24P-68 for further details. See our "Forms" tab, specifically our Personal Property Utah Code Information.