170 Courthouse Square
Frankfort IN 46041
Telephone: (765) 659-6315
Business Tangible Personal Property
The assessment date for Business Tangible Personal Property is January 1 of each year. Anyone owning, holding, possessing or controlling business personal property in Indiana on this date, is required to file the appropriate forms with their County Assessor by May 15th or be postmarked by the 15th of May.
All form can be obtained from the State of Indiana, Department of Local Government Finance website: http://www.in.gov/dlgf/4971.htm. Copies of these forms can also be obtained from our office. Our office will not be mass mailing forms for 2014pay2015 and thereafter.
Forms must be filed with our office by the above-mentioned date. Please note, extensions of filing requirement will not be granted. Late or incomplete forms will be subject to penalties as prescribed by the State of Indiana.
In an effort to accurately assess your business personal property, please be sure to include the following information:
- • Include your Federal Identification Number, if you have one.
- • Select the appropriate six-digit NAICS code from the following website:
- • Be sure all forms are signed and dated.
The Assessor of Clinton county is dedicated to ensuring that your property assessments are accurate.
WHAT DOES THE COUNTY ASSESSOR DO?County Assessor – The County Assessor identifies, lists and calculates the assessed value of all Real and Personal property. In general, the County Assessor performs the following duties:
- Provides assessments to the taxpayers.
- Oversees the General Reassessment process.
- Serves as Member/Secretary of the County Property Tax Assessment Board of Appeals.
- Insures countywide uniform Property Assessment Equalization.
- Acts as the Inheritance Tax Appraiser and represents the Inheritance Tax Division.
- Discovers and identifies omitted property.
- Calculates the assessed value of all real property in each taxing district.
- Verifies and review the self reported values of all personal property in each taxing district.
- Calculates the total assessed value of each taxing district.
- Certifies current Assessments to the County Auditor's Office.
- Utilizes recent sales of land (Sales Disclosures) to establish base market rates and values in each neighborhood, adjusts base values for location, nearness to amenities and other influence factors.
- Is responsible for the selection of Assessment Software and Computer Systems.
The State of Indiana describes property assessment as follows:
Property taxes represent a property owner's portion of the local government's spending in a given year. Property taxes in Indiana are paid in arrears, meaning the taxes paid in the current year represent the taxes owed for the previous year. Taxes in Indiana are due annually in two installments - May 10 and Nov. 10.
A property's assessed value is the basis for property taxes. Annually local assessing officials assess the value of real property on March 1 based on market value in use of the property. County officials add all of the assessed values of property in a county together and subtract the applicable deductions to determine the county's net assessed value. The Indiana Department of Local Government Finance sets the total amount of money government units in a county can spend in a year based on projected revenues for the county. This total allowed expenditure is divided by the net assessed value to determine the tax rate. Most simply, this can be explained as:
TAX RATE = Estimate of funds to be raised/net assessed value
The tax rate is multiplied by the assessed value after all deductions are subtracted from each property. For a complete listing of deductions and eligibility requirements, please contact your local assessor. The county auditor then applies the state homestead credit and property tax replacement credit to arrive at the amount the property owner will pay in taxes to the county.
Property owners can estimate the property taxes for new construction by adding the cost of the land and improvements together and multiplying by the tax rate. Current tax rates are located HERE. County Auditors can provide the most accurate information on individual property taxes.