Overview of Taxable Personal Property

Colorado Statute requires anyone who owns a business or rents out their residential property on a short or long term basis to declare their business equipment or residential rental furnishings. Taxable property includes, but is not limited to:

Artwork Computers Decorative rugs DVD / VCR / BluRay / 3D players Equipment Furniture Machinery

Point of sale systems Security devices Solar systems (installed on a commercial structure) Telephone systems Televisions

This includes all assets used in the business or the rental property whether acquired new, used or received as a gift or the result of a real estate or business sale. This information is required to be filed annually with the assessor.

Resources

• Commercial Personal Property Brochure
• Declaration Form
• Residential Personal Property Brochure

Reappraisal

Personal property is reappraised every year. Usually these values are established using information submitted by the property owners; if complete and accurate data is not provided, the assessor uses other sources of information to set a reasonable value.

Notices of Valuation are sent on June 15. The Assessor notifies owners of their valuations via a summary Notice of Valuation (NOV) postcard. More detailed information, as well as historical NOV images, can be viewed in the Notice of Valuation Archive.