Personal Property Home Page

Defining Personal Property

The equipment, furniture, tools, and supplies used by businesses are referred to as Business Personal Property. These items are tracked and taxed using the Personal Property workflows.  Any item that aids a business must be claimed and will be taxed based on its value.

New Accounts

As new businesses are created and opened within the jurisdiction it will become necessary to add new personal property accounts to Capture. Capture allows users to add new accounts through the New Accounts tab located in the PP Supervisor workspace. From this tab users may add accounts as well as query accounts that were created within a specified start and end date.

Address Mass Update

Personal Property Address Mass Update allows users to update multiple personal property accounts' owner name and address information simultaneously. This mass update is beneficial for multiple accounts owned by a single owner such as accounts owned by leasing companies. All accounts owned may be updated together rather than individually, saving the user time.

Depreciation Schedule

The Personal Property Depreciation Schedule shows the % good for items in each depreciation year based on the current rate year. The depreciation schedule is updated annually. Personal property accounts must be regenerated annually to ensure the proper value for each item is correctly calculated. Items are separated into groups based on item type and depreciation rate as some items depreciate in value faster than others.

Individual Regeneration

Regenerating a personal property account updates an accounts items from the previous year’s depreciation schedule to the current year’s depreciation schedule. Items must be regenerated annually to ensure the correct value is being assigned to each item. Accounts can be regenerated on an individual level as well as by mass update. The Rendition Status must be “Received” in order to regenerate an account.

Individual Rendition

A rendition or schedule is a form that businesses must fill out each year to report the personal property they own. Taxes are based on the amount of personal property owned by individual businesses. Capture allows for the items from the rendition to be added manually or imported to the account.

Mass Update Regenerate

This Quick Help is designed to teach the user how to regenerate Personal Property items on a mass scale to reflect the current year’s Depreciation Schedule. This Quick Help will show the steps for regeneration as well as the steps to check that the items updated correctly against the Depreciation Schedule.

Mass Update Rendition

This Quick Help is designed to teach the user how to update Personal Property Accounts rendition status to Returned on a mass scale.

Rendition Schedule Printing

Rendition notices are forms sent by the county asking for a full accounting of a business's personal property.

PP Supplements

A supplement is a replacement record for a parcel that has already been abstracted for the current year. Supplements are created to correct errors or update new account information.