New for 2019
Inconsequential Personal Property Exemption (59-2-1115) the taxable tangible personal property of a taxpayer is exempt from taxation if the taxable tangible personal property has a total aggregate fair market value per county of $10,800 or less.
- Personal Property exempt from taxation if total aggregate fair market value per county is $10,800 for 2019.
- $10,800 exemption effective 1/1/2019.
- The classification code for Medical and Dental Equipment has been dissolved. Medical & Dental Equipment and Machinery & Equipment assets will now be classified together. These two classes have been merged together due to the depreciation schedules of both classes historically being the same. The combined class has been named Machinery & Equipment and Medical & Dental Equipment. Please adjust your records accordingly.