March 1 Deadline Reminder for Property Owners

February 14, 2022

March 1

  • Business and industrial equipment owners need to report their personal property online with the department’s TransAction Portal (TAP) at Businesses have a statutory reporting requirement if their total statewide aggregate market value of equipment is over $300,000. Those businesses whose statewide aggregate market value is $300,000 or less are exempt from the business equipment tax. These businesses will not have a reporting requirement in 2022 unless: (1) they have acquired new personal property that would increase their equipment’s aggregate market value above the exemption amount; or, (2) the department requests a personal property reporting form be completed.
  • Nonprofit, religious, or charitable organizations and other tax-exempt entities may qualify for a real or personal property tax exemption based on the specific use of the property. If you feel your organization may qualify, please see our website for the documentation requirements for your specific exemption type. Applications must be submitted by March 1 to be considered for Tax Year 2022.