Indiana requires all businesses—including any firm, company, partnership, association, corporation, or individual--to complete personal property tax returns. Personal Property can be described as anything tangible such as tools, computers, printers, fax machines, desks, chairs machinery, signage, display cases, security systems, and farm equipment. However, this does not include intangible property (such as computer programs), inventory, or anything that has a plate on it from the BMV (vehicles).
The appropriate forms can be submitted through email, downloaded, or obtained by stopping by the Assessor's office.
Please note that it is the owner's responsibility to obtain and file the appropriate forms. If a business is closed, it is the owner's responsibility to let the Assessor's Office know (a note attached to or a letter in place of a filing will suffice). Failure to let the Assessor's office know about such closures will still result in an accumulation of penalties for each year until the Assessor is notified.
Forms & Instructions
Form 103 Short (business with assessed value under $150,000)
Form 103 Long (large business or manufacturing with assessed value of $150,000 or more)
Form 104 (mandatory cover sheet with all forms unless total equipment cost is under $40,000 and/or you are tax exempt via Form 136)
Please note: Recent changes in Indiana law now require taxpayers who file a Business Tangible Personal Property Return (103 Long, 103 Short, or 102 Farm) to complete the entire form.
The following are regularly absent from filed business personal property returns:
- Principal Business Codes (see NAICS Business Activity Codes below)
- Federal ID Numbers
- Taxpayer Signatures
Incomplete returns may result in fines pursuant to Indiana law IC 6-1.1-37-7(d). All Form 102’s and 103’s need to be coded with whichever code best describes the business.
Click here to look up your taxing district.
Frequently Asked Questions
For more information about Personal Property, please see these fact sheets published by the DLGF:
Important Dates to Remember
- Personal Property Forms are due by May 15th.
- If Personal Property forms are filed after this date and before June 15th, a late penalty of $25 will be applied.
- If Personal Property forms are filed after the late deadline above, a 20% penalty will be applied along with a $25 late fee.
- Amended returns (fixes to errors on original timely filings) may be filed until May 15th of the next year.
- A $25 fee may also be applied if the forms are not in compliance with the state guidelines.
- Personal property returns for a previous year that were filed on time may be amended until May 15 of the current year.
What to File
File Form 104 with either:
- Form 102: Farmer's Tangible Personal Property Assessment Return
- Form 103-Short: Filed for under $150,000 in Personal Property
- Form 103-Long: Filed for more than $150,000 in Personal Property Note: Only one copy is needed.
Property owners declaring the exemption for personal property with an acquisition cost of less than $20,000 do not need to complete Form 104. In this case, property owners may fill out whichever of Form 102, 103-Short, or 103-Long is appropriate and check the box at the top of the form that denotes they are seeking the exemption.
Please note: Business owners can file one return for businesses with several locations in the same taxing district.