Personal Property

What is Personal Property?

Personal Property is generally known as portable or movable items used for income production. Examples include furniture, fixtures, computers, signage, restaurant equipment, office and business equipment, furniture in a rental unit, any other equipment used to function and operate a business.

All personal property is taxable unless it is specifically exempt by law. Exemptions include, but not limited to, inventories for resale, materials, supplies consumed and agricultural equipment.

If you are not sure if it is taxable please include it in your declaration and it will be determined by the Assessor’s Office.

How is my equipment assessed?

The County Assessor determines the actual value of personal property.

Please contact the Assessor's Office at 720.523.6036 for further information.

What if I Sell My Business?

When selling your business make sure that the personal property taxes are paid at closing. Please notify the Assessor’s Office with the name and address of the new owner.

What if my Business Closes?

Taxes are assessed beginning January 1 for the full year. Therefore, taxes for the full tax year are due immediately upon the closing of a business.

To avoid substantial penalties and the issuance of a Distraint Warrant, please notify the Treasurer’s Office before removing any equipment from the business.

Per Colorado Revised Statue 39-10-113: (1) (a) If at any time after the lien of general taxes has attached, the Treasurer believes for any reason that any taxable personal property may be removed from the county or State of Colorado or may be dissipated or distributed, so that taxes to be levied for the current year may not be collectible, he may at once proceed to collect such taxes and, if he deems necessary, may distrain, seize, and sell such personal property to enforce collection. Upon his request, the Assessor shall certify to him the valuation for assessment of such personal property for the current year. If the levy for the current year has not been fixed and made, the levy for the previous year shall be used to determine the amount of taxes due.

Please notify the Assessor’s Office when closing your business.