Tangible Property

All individuals and business entities who own or lease taxable tangible property located within Kentucky on January 1st must file a tangible property tax return (Revenue Form 62A500). Business owners are required to file tangible property returns with the Property Valuation Administrator’s Office or the Department of Revenue by May 15th. Returns postmarked after May 15th will be assessed for the tax plus applicable penalties and interest by the Department of Revenue.

Personal property consists of items such as: office furniture and equipment; store, business and professional trade fixtures; leasehold, machinery, manufacturing and non-manufacturing equipment; freestanding signs; raw materials; inventories of all kinds; aircraft and other personal items that may have value or utility. All tangible property is taxable, except the following:

• Personal household goods used in the home
• Crops that are grown in the tax year, which the assessment is made, and are in the hands of the producer
• Tangible personal property owned by institutions exempted under Section 170 of the Kentucky Constitution
  (Personal and Business Intangible Personal Property is no longer taxable as of January 1, 2006)

Tangible Personal Property Checklist:

• Enter your Social Security or Federal Employer Identification Number on all returns, schedules, attachments and correspondence
• Sign all returns and include telephone number(s)
• File returns with the Property Valuation Administrator or Kentucky Revenue Cabinet by May 15th
• All returns postmarked after May 15th will be assessed additional penalties and applicable interest by the Kentucky Revenue Cabinet. Personal property tax returns cannot be filed with your income tax return
• There is no filing extension provision for tangible personal property tax returns
• Please do not send payment with the return. The Jessamine County Sheriffs Office will mail tax bills

If you have any tangible property questions, please contact the Jessamine County PVA Office at (859) 885-4931 or the Division of State Valuation at (502) 564-2557.