Personal Property is defined by the State of Colorado as: equipment, machinery, furniture, security devices, household furnishings and signs which are used for the production of income or in the operation of a business. All personal property is taxable in Colorado unless exempt by Statute.
If you fail to file a Declaration Schedule, the Assessor may determine a valuation based on the Best Information Available (BIA) and may add a penalty of 25% of the assessed value for omitted property. If it is the 1st time you have received a Declaration Schedule from our office and we do not receive it back, we will try to make an appointment with you to do an onsite review of your property prior to assigning it a BIA value. However, we have a small window (60 calendar days) in which look at all the returned schedules, assign values and get the Notice of Value (NOV) out to the taxpayers.
Once a BIA value has been assigned, if you do not protest when you receive your NOV, our hands are tied as to being able to correct any errors. Please do not wait to ask questions until you receive a tax bill, it may be too late. If you have questions regarding Personal Property or need assistance in completing a declaration schedule, please call 970-264-8317 and speak to our Personal Property Appraiser.
The Colorado Department of Local Affairs website hasPersonal Property Declaration forms for the different types of Personal Property. These forms need to be returned to our office at 449 San Juan St, or PO Box 1089, Pagosa Springs, CO 81147 by April 15th.