Personal Property FAQ
What Type of Personal Property is Assessed?
Unless specifically exempted, all personal property in Idaho is subject to assessment and taxation. Refer to Idaho Code 63-302
Some examples of taxable personal property items used in a business are:
· Office Furniture (desks, filing cabinets and chairs)
· Professional Libraries
· Leased Equipment
· Machinery and Equipment
· Tools (including small hand tools)
· Signs and Telephones
· Unregistered Vehicles
· Lease Hold Improvements such as carpet, plumbing and electrical additions or remodeling that has been done to a leased building to conduct the business.
· Computers (including software), Typewriters and Office Machines
· Medical/Scientific Equipment and Instruments.
What Type of Personal Property is exempt?
Examples of Personal Property that may be exempt are as follows:
· Personal Effects
· Household items except telephones, computers and furniture and fixtures used for the business
· Non-business Apparel
· Registered Motor Vehicles
· Farm Machinery and Equipment exclusively used for harvesting or planting a crop. Refer to Idaho Code 63-602EE
· Business Inventory
· Equipment used for education (Public or Charter school exemption must be filed every year)
· Facilities for water or air pollution control.
· Property owned by fraternal, benevolent or charitable corporations that has received a formal approval of exemption from the Bonneville County Board of Commissioners.
· Other exemptions allowed by law
Contact The Personal Property Department for questions you may have and requirements concerning what is exempt.
What is Transient Personal Property?
Transient personal property is unregistered farming, construction, logging and mining equipment which spend more than 30 consecutive days in more than one county in the state during the same year. If you own transient personal property, you should consider the county in which you maintain a residence or usual place of business as your home county. Refer to Idaho Code 63-313
What is a Lien Date?
The lien date for real property and most personal property is January 1st. For personal property brought into Idaho after January 1st, the lien date is the first day in which the property was brought into the state or put into service.
Who assesses personal property in Bonneville County?
The Bonneville County Assessor’s Personal Property Department.
How does the County Assessor know what to assess?
If you have taxable business personal property in Bonneville County, you are required to report it to the Bonneville County Assessor. This is done by using a Personal Property Declaration, a form available from the Bonneville County Assessor's Office. The form contains sections for listing personal property by make, manufacturer, year of manufacture, serial number, year acquired and cost, including installation if required.
When must I report my personal property?
You must return your personal property declaration to the Bonneville County Assessor by the date indicated on the declaration, or no later than March 15th. A different deadline may be given if your personal property is missed or your business starts after January 1st. You should file the declaration for transient personal property on or before the first Monday of November of each year with the assessor of your home county. If you own transient personal property, you should notify the county assessor within ten days of entering a county other than the property's home county.
At what value is my personal property assessed?
Business personal property is assessed by taking the original purchase price, times a replacement trend, minus accrued depreciation to arrive at market value. The Idaho State Tax Commission does provide depreciation guide lines for each property type.
The value of personal property is included on the assessment notice mailed to you. When you get your assessment notice, please review it carefully to ensure all the information is accurate. Assessment notices are usually mailed by the first Monday in June. However, if you start a new business after January 1st or have transient personal property, the assessment notice for your personal property is usually mailed in December. Refer to Idaho Code 63-308
What if I disagree with the assessed value of my personal property?
Contact the Bonneville County Assessor's Office if you disagree with the assessed value. The Assessor's Office maintains a file of information on your personal property. If you have questions about your assessment, you should review this information with an appraiser to ensure its accuracy. If you cannot resolve your disagreement with the appraiser, you may appeal to the Bonneville County Board of Equalization, which consists of the County Commissioners. Your appeal must be filed with them by the fourth Monday in June. If you received your assessment notice in the latter part of the year, your appeal must be filed in January. Please be prepared to document your reasons for requesting a change in your property's assessed value. You will need to prove that the appraiser's value is not the current market value of the personal property. If needed, you can obtain an appeal form from this link, the Bonneville County Assessor or the Commissioners' Office.
What happens if I close or sell my business?
If you sell to another person or at a farm auction or close a business, you should notify the Bonneville County Assessor's Office in writing as soon as possible.
What if a business does not report its personal property?
The Bonneville County Assessor is required to assess property which is not declared. The assessment is based on the best information available. Idaho law provides that county officials must double the assessed value of any personal property they discover which has been willfully concealed in order to avoid paying taxes. The assessment is doubled for each year the property escaped assessment. County officials may sell personal property immediately after taxes become delinquent and pay off the tax lien from the proceeds of the sale. Refer to Idaho Code 63-1401
How are my personal property taxes determined?
The market value of your property is one factor in setting the amount of tax you pay. The County Assessor does not determine tax amounts. The amount of taxes is determined by the budgets of the taxing districts in which your property is located.
When will I get my Personal Property Tax Bill?
You will normally receive your personal property tax bill by the end of November from the Bonneville County Treasurer. For transient personal property or December assessments, you should receive the bill in February of the following year.
What happens if my personal property taxes are not paid on time?
Taxes are delinquent if not paid by the due date. Delinquent taxes accrue interest and penalties, which are also a lien against your property. At this point, the Bonneville County Sheriff may seize and sell your property.
HB599a - Personal Property Exemption
The 2008 Idaho Legislature passed House Bill 599a that exempts up to the first $100,000 dollars per Taxpayer per county from their Business Personal Property value effective 1/1/2009. See Idaho Code 63-602KK
This exemption is known as "H599a TAX, PERSONAL PROPERTY EXEMPTION - H599a exempts up to $100,000 of personal property value per taxpayer per county. Before the Exemption goes into effect and the state payment is triggered to replace personal property taxes, there must be at least a 5% fiscal year state general fund revenue growth over the fiscal year 2008. State centrally assessed operating properties (utility/railroad personal property) are not included in H599a. All businesses will need to continue reporting their business personal property inventory on the annual county declaration reports in order for the exemption to take effect. H599a includes provisions for the State Tax Commission to calculate the percentage of state revenue replacement that shall be distributed proportionately to each county. The state replacement revenue will be from state sales tax distributions."
For questions concerning Business Personal Property Assessment Notices call (208) 529-1323.
If you have questions about your property tax bill, please contact the Bonneville County Treasurer's Office at (208) 529-1380.