Blank Declaration Forms
Brochures (updated 09/2021)
Definition of Personal Property
"Personal property" includes machinery, equipment, and other articles related to a commercial or industrial operation that are either affixed or not affixed to the real property for proper utilization of such articles.
Personal Property examples:
The Declaration Schedule for personal property is sent to businesses and residences in January. These forms list an entity's assets which need to be updated every year. The form should be signed and returned by April 15th to avoid a penalty.
Updates on Personal Property
A new Colorado state law sponsored as House Bill 21-1312 concerning insurance premium property sales severance tax was signed by Governor Polis into law on June 23, 2021. Under the new law, commencing Jan 1st , 2022, business personal property exemption will change from $7,900 to $50,000.
Effective January 1, 2022, business owners whose Business Personal Property is $50,000 or less as per the Assessor Market Value, no longer needs to pay a Personal Property Tax. Business Personal Property can be defined as everything which is not real property, typically portable or movable items.
Business Personal Property includes:
• Security devices
• Sign and personal effects not otherwise exempt by law.
The state will reimburse local governments for the lost property tax revenue caused by the increase, so it will have a net zero effect on the county Taxing Entities and be a bonus for Colorado taxpayers.
“This new law is an advancement by the State of Colorado to support small businesses,” said Teller County Assessor Colt Simmons. “The bill reinvests into the small businesses that really need this break and simplifies things for them by not having to pay a Business Personal Property Tax.”
The Assessor’s Office is available at 970-920-5160 or firstname.lastname@example.org. Filing Electronic Personal Property Declarations is strongly encouraged. Personal Property Declaration filings can be emailed to email@example.com. Filers will receive an automatic confirmation email receipt for their records. Filings may also be faxed to 970-920-5174.
Notice of Value
Notice of Valuations (NOV) are sent June 15th. To protest your personal property value, sign and return the NOV by June 30th. Please see the Appeal Guide for more information.