Personal Property
Personal Property refers to personal property of businesses including farms and ranches. If a business owns personal property that the statewide total, has market value of $20,000 or less, then the personal property is exempt from taxation.
The market value for machinery and equipment is usually determined through use of the "Green Guide" manual or by applying a percent-good factor to the F.O.B. or acquired cost.
An example of the tax in 2008 for a forklift acquired
in 2000 for $20,000 is calculated below:
Acquired Cost = $20,000
Percent Good = 35%
$20,000 x 35% = $7,000
Acquired Cost x Percent Good = Market
Value
$7,000 x 3% = $210
Market Value x Taxable Percentage = Taxable
Value
$210 x 400 Mills = $84.00
Taxable Value x Mills = Taxes
Depreciation Schedules
- Title Page
- Index
- Proration Chart
- PPBA-3 New Cost Factor Chart
- PPBA-16 Farm Machinery and Equipment
- PPBA-18 Heavy Equipment
- PPBA-19 Heavy Equipment
- PPBA-20A Cable Television
- PPBA-22A Furniture and Fixtures
- PPBA-23 Leased and Rental Property
- PPBA-27 Drill Rig
- PPBA-28A Seismograph Units and Allied Equipment
- PPBA-29A Work Over and Service Rig
- PPBA-30A Oil and Gas Field Production Equipment
- PPBA-30B Trend Factors for Oil and Gas Manual
- PPBA-31 Trending up Chart
- PPBA-32 Trending-up Chart for Heavy Equipment
- PPBA-32A Attachment to Heavy Equipment
- PPBA-33 New Cost Factor Chart Instructions
- PPBA-34 Trending-up Instructions Proration Chart
- PPBA-35 Industrial Machinery and Equipment Trend Factors
- PPBA-35A Business Manufacturing Machinery and Equipment
- PPBA-40 Ski Lift Equipment
