Commissioner of Revenue Business Property

General Information

The Commissioner of Revenue is responsible for the assessment of tangible business property. Business property includes, but is not limited to, fixtures, furniture, equipment and machinery & tools. Businesses are assessed based on the property owned as of January 1 of each tax year. We utilize the purchase price and acquisition date along with the chart below to assess business property.

Business Property Assessment Schedule

Business Furnishings & Equipment

1-3 years: 55%
4-6 years: 30%
7 & older: 10%

Business Computers

1 year: 60%
2 years: 35%
3-4 years: 10%
Obsolete (determined by Commissioner): 0%

Machinery & Tools*

1-3 years: 20%
4-6 years: 15%
7-10 years: 10%
11 & older: 5%
Idle: Non-Taxable

Cablevision, Direct TV & Delivery equip, feeder cable, Satellite Antennae, dish, etc.

1-3 years: 65%
4-6 years: 45%
7 & Older: 25% 

*Please Note: Machinery & Tools depreciation schedule adjusted for 2019.

Additional Information

  • Applications & Tax Forms - This page contains the Tangible Business Property Returns that are due by May 1 of each tax year.
  • Tax Rates - Current business property and machinery & tool tax rates are found on this page.