ALAMOSA — All persons owning, possessing, or controlling taxable personal property with a total actual value greater than $7400 (per owner, per county) on January 1 are required to report the personal property to the assessor by April 16. Personal Property Declaration Schedules have been mailed to every person, business, or company, known to own, possess, or control taxable personal property in the county.

Non-receipt of a declaration schedule DOES NOT excuse taxpayers from declaring taxable personal property to the assessor. Anyone who has not received a declaration schedule and owns personal property with a value greater than $7,400 must contact the assessor at 719-589-6365.

All personal property with a total actual value in excess of $7,400 (per owner, per county) is taxable unless specifically exempt by law.

Taxable personal property includes:

• All residential household furnishings used to produce income
• Equipment, furniture, and machinery used by commercial, industrial, and natural resource operations
• Property used in an agribusiness that does not qualify as agricultural pursuant to §39-1-102(1.6) (a), C.R.S.
• Expensed assets with a life greater than one year
• Fully depreciated assets still in use
• Personal property in storage that is subject to IRS depreciation
• Leasehold improvements

Equipment that is licensed as a motor vehicle (SMM plate or Z-Tab) is not reported on the Personal Property Declaration Schedule.

Completed declaration schedules are due April 16.  Residents may extend the deadline if, prior to April 16, the assessor receives a written request for an extension along with $20 for a 10-day extension, or $40 for a 20-day extension. Those who do not meet the April 16 deadline and do not request an extension, a penalty in the amount of $50 or 15 percent of the taxes due (whichever is less) will be applied to their account.

For those who fail to file a declaration schedule, the assessor will establish a taxable value based on the “best information available” and add a penalty of up to 25 percent of assessed value for any omitted property that is subsequently discovered.