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%
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%
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.
- 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.