Changes to the Personal Property Tax Schedule
For those individuals, small businesses and corporations who will be filing a personal property declaration schedule this year, they will notice a new addition to Section B of the form. We are now requesting a Social Security Number (SSN) and/or a Federal Employee Identification Number (FEIN). As taxpaying citizens ourselves, we are well aware of the sensitivity surrounding these numbers. Personal property files, in and of themselves, are confidential by state law and that security has always been a top priority in the Adams County Assessor's Office. We are certain that the SSNs and FEINs will be kept with the same strict confidentiality. The purpose of requesting these numbers is to accommodate the state personal property tax credit, which was implemented in 1999.
Expediting the Refund Process
In an effort to assist the State of Colorado Department of Revenue, the Personal Property Department of the Adams County Assessor's Office will be maintaining a file for SSNs and/or FEINs for those business personal property taxpayers in our county. In 1999, the first year of the refund, the Department of Revenue experienced many unnecessary complications matching up refund requests with taxpayers. The implementation of the SSN and/or FEIN will substantially expedite the refund process. The most important step in this process, however, begins with the taxpayers themselves. After receipt of the declaration, these numbers will be entered into our data base for the corresponding account.
The Submission Process
No later than June 30 of each year, assessors will be required to submit a list of taxpayers with their schedule numbers and SSN and/or FEIN, if available, to the state's Department of Revenue. The treasurer, on the other hand, will submit a list of taxpayers and their schedule numbers who have paid their taxes for the preceding year. The department will then refund to each qualified taxpayer the full amount of credit allowed no later than August 31. A form will be sent with the refund, should the taxpayer feel they did not receive their full refund.
Please keep in mind, the assessors have nothing to do with the actual refund process outside of providing the SSN and/or FEIN. All inquiries regarding the actual refund should be directed to the Colorado Department of Revenue at 303.238.7378. If these taxpayer identification numbers are not provided to the Assessor's Office, recourse is available through the Department of Revenue if a tax credit is in order. Our office will be unable to pursue taxpayers for this information aside from the declaration itself.
For those taxpayers that qualify for a refund, the process will undoubtedly run smoother, faster and with fewer questions asked. We therefore encourage all of those filing declarations for the current year to include their SSN and/or FEIN and assist our office in making the personal property tax credit program a success.