Livingston County Assessor Steve Ripley will soon mail forms to property owners for listing their personal property which is subject to assessment for the 2013 assessment year.
This year, the assessor's office has changed the software that it uses to value personal property. Please take a moment and look at the new personal property form. Most forms should have a preprinted list of items. During the conversion, many items were not able to be converted. Ripley suggests that you examine the form carefully, and follow the instructions provided, adding any personal property you owned as of Jan. 1, 2013, and providing the vehicle identification number (VIN), and marking through any items you no longer own.
By March 1, 2013, every owner of personal property must report, on the form provided by the assessor, all taxable personal property which was owned by the person or business on Jan. 1, 2013.
There will be a form for individuals owning personal property, and a separate form for business and commercial personal property owners.
Ripley also noted that the reporting of business and commercial property has changed for items purchased after Jan. 2, 2006. Those items shall be depreciated using the Cost Recovery Tables, as specified in RSMO 137.122, and based on the IRS MACRS tables.
"Every year, a few property owners forget to return their lists," Ripley said, "so we make every effort to remind people to return them on time."
Those not returning a completed list to the assessor by the March 1 deadline are subject to penalty.
"Penalties range from $10 to $100 depending upon the value of the property," Ripley said. "The statutes provide the assessor with almost no discretion to waive the penalties."
The assessor advises that the best way to remember to return the list on time and avoid a penalty is to fill out the form, sign it, make a copy of it, and put it in the mail the same day you receive it. A copy of the form may be helpful if a question arises regarding the filing of the form.
Property owners who have not received a list, or who are new residents to the county, are not excused from filing, and should contact the assessor's office to obtain a form at 660-646-8000 ext. 2, or stop by the office on the first floor of the courthouse.