Personal Property

DETERMINING TANGIBLE PROPERTY
Tangible Personal Property is physical property, usually moveable and has value. In determining personal property, items that can be moved without damage to the real estate are considered personal property. Machinery bolted to the floor to prevent movement while in operation would remain personal property. If the machinery were built into the building in such a manner that its removal would produce considerable damage to the building, it would be deemed as part of the real estate.

TANGIBLE PROPERTY RETURNS
All individuals and business entities who own, lease, or have a beneficial interest in taxable, tangible property located within Kentucky on January 1st must file a tangible property tax return. All tangible property is taxable, except the following exclusions:

• Personal household goods used in the home
• Crops grown in the year which the assessment is made and in the hands of the producer
• Tangible Personal Property Owned by Institutions Exempt under Section 170 of the Constitution

Some common examples of tangible property include:

• Furniture & Fixtures
• Computers
• Machinery & Equipment
• Aircraft
• Raw Materials
• Inventories of All Kinds

If you have any questions regarding how or where to classify an asset, please review the instructions and then call the Division of State Valuation, Tangible Department at (502) 564-2557.

Property Returns are due May 15th of the following year. THERE ARE NO EXTENSIONS.

A separate tangible return must be filed for each location within Boone County.

Please do not send payment with the return. You will be billed by the Sheriff‘s Office.

• 2007 Tangible Return
• 2007 Tangible Return for Aircrafts
• 2007 Tangible Return for Documented Watercraft
• 2007 Instructions to Tangible Return
• 2008 Tangible Return
• 2008 Tangible Return for Aircrafts
• 2008 Tangible Return for Documented Watercraft
• 2008 Instructions to Tangible Return

Intangible Property Tax is no longer taxable, effective January 1, 2006.