What is personal Property?
A key characteristic of personal property is the ability to move it without damage either to itself or to the real estate to which it is attached. Personal property becomes real property only if it is affixed in such a way that it loses its original physical character and cannot practically be restored to its original condition.
Personal property may be leased, loaned, rented, consigned, or owned. The basic categories include: furniture, fixtures, plant equipment, office equipment, machinery, boats, aircraft, mobile homes, and recreational vehicles.
What are some examples of business personal property?
- telephone systems
- fax machines
- copy machines
- desks and chairs
- computers postage meters
- shelving and racks
- plant machinery
- storage tanks
- refrigeration units
- high loaders tools/dies/molds
- industrial equipment
- manufacturing equipment, materials and supplies
- satellite equipment
What are some examples of individual personal property?
- non-highway vehicles
- heavy trucks
- hot-air balloons
- mobile homes
- off-road vehicles
What about automobiles?
Automobiles and most recreational vehicles are classed and taxed at the time of registration for license plate or renewal decal. Please check with a personal property appraiser in the Johnson County Appraiser's Office for further clarification of what constitutes taxable personal property.
What is commercial value?
The valuation of owned or leased commercial personal property is based on the cost of assets. Assets are valued according to their cost when new, or their used acquisition cost, and the appropriate economic life. The asset is then depreciated over its economic life to a remaining salvage value.
Commercial and Industrial Machinery and Equipment purchased after June 30, 2006 is exempt.
Since Jan. 1, 2007, any qualifying item of commercial personal property that originally cost $1,500 or less is exempt.
Economic lives that are assigned to commercial assets come from guidelines issued by the State of Kansas, Internal Revenue Service (IRS) publications and the Marshall, Swift Valuation Services.
For more information, please visit the Kansas Department of Revenue, Division of Property Valuation.
What is individual personal property value?
Many Personal Property assets belonging to individuals are valued from market data using appraisal guides and state and regional market sources. This market data is then used to establish the current value of a particular asset. Typically, this value will be based on current trade-in values according to the age of the asset and market condition.
Automobiles, light trucks and motorcycles are classed separately by the State of Kansas.
Who must list personal property?
According to Kansas Statute:
- K.S.A. 79-303: "Every person, association, company or corporation who shall own or hold, subject to his or her control, any tangible personal property shall list said property for assessment."
- K.S.A. 79-301: "All tangible personal property subject to taxation shall be listed and assessed as of the first day of January of each year in the name of the owner thereof."
Remember: It is your responsibility to file this information with the County Appraiser's Office. If you own any tangible personal property with the intent to establish and/or operate a business (including home based business), or if you own any recreational property or vehicles not taxed at the time of registration, or mobile homes not on a permanent foundation, you must file a rendition with the County Appraiser's Office.
The rendition form is available through the Appraiser's Office.
The personal property division invites you to electronically file your commercial personal property rendition via an e-mail attachment! You may e-mail your personal property rendition as an attachment to [email protected].
The preferred file format is Microsoft Excel. However, Adobe PDF, MS Word and TIF formats are also acceptable.
Attachments must include the following information:
- Name of Business
- Personal Property Account Number
- Mailing Address
- Situs Address as of January 1 of the assessment year
- Contact Name & Phone Number
Please view the following example filings (PDF) : commercial upload : leasing format
How are taxes figured on personal property?
If the fair market value of your individual personal property is $5,000 and the fixed percentage of assessment is 30%, this would mean the assessed value would be $1,500: ($5,000 x .30 = $1,500).
Once taxing groups (school districts, cities, county, etc.) set their mill levy, this amount is used to calculate your taxes.
Let's assume the combined mill levy (tax rate) has been set at 120 mills. Multiply the assessed value of your property ($1,500) by the mill levy (120 mills or .120). The answer is $180, which is your share of the costs of public services.
$5,000 Market Value
x .30 Assessment Ratio
1,500 Assessed Value (A.V.)
x .120 Mill Levy (120 mills per $1,000 A.V.)
$180 Tax Amount
The County Appraiser mails a Notice of Appraised Value to all personal property owners in Johnson County notifying them of the appraised value of their personal property as of January 1st.
The value notice identifies the property, the classification of the property (individual or commercial personal property), the appraised value, and the assessed value for the current and prior year, and instructions on how to appeal the appraisal.
These appraised values of personal property are determined from the accurate listings provided by the owner earlier in the year.
Relief from tax grievance
You may obtain tax grievance and tax exemption forms on our Web site. You will need a grievance form if you have been assessed a penalty and wish to grieve it before the State Board of Tax Appeals.
NOTE: Property owners may appeal the value on their property only once during any tax year.
Payment under protest:
Payment Under Protest forms are used to address valuation issues on personal property reported at the time the bill is issued and is to be paid. This form must accompany the payment of taxes to the County Treasurer's Office.
This form is available through the County Treasurer's Office. They will be happy to discuss this form and its completion with you.
Tax exemption forms:
Tax Exemption forms are used for individuals or businesses wishing to acquire exempt status on certain property according to Kansas Statutes, i.e., K.S.A. 79-201, et seq.