The annual itemized list of personal property used in a business, ranch or farm is due to the Okanogan County assessor.
State law requires all businesses to submit a list of all taxable personal property, including desks and chairs, computers and cash registers, camera security systems, beds and furniture used in nightly rentals, farm machinery and construction equipment.
Taxable personal property does not include household goods and personal effects unless they are used in a business. It also does not include business inventories, such as goods offered for resale.
The list needs to be reviewed by the owner to be sure it is current. The business owner must provide the acquisition date and cost (minus sales tax) for each item.
All new businesses must contact the assessor’s office to request a personal property-listing affidavit so they can record and value their business property. Attaching a copy of the IRS depreciation schedule for these items assists the assessor in creating an accurate listing.
Businesses already registered with the county should have received their current list for review, which was mailed Jan. 17.
The updated list is due at the county assessor’s office by April 30. Late filings may incur penalties from 5 to 25 percent of the tax due.
For more information, contact the assessor’s office at (509) 422-7190.