Property owners are nearing the May 1st deadline to file 2014 personal property schedules, Dawson County Assessor John Moore said this week.
Letters were sent in January for those who still have taxable items. The letters included an updated preprinted form along with a password or PIN on a postcard. So property owners may go online, file through the regular mail, or at the assessor’s office.
This online service applies only to existing schedules. Any new filing needs to be completed at the assessor’s office, said Moore. The web site for online filing is www.personalpropertyonline.us.
Purchases made during 2013 and before need to be added to the 2014 schedule. The tax year began January 1st. In other words, anything purchased after December 31st, 2013 would not be reported on a 2014 schedule, but in 2015.
Submission of federal depreciation worksheets with the personal property schedules continues to be part of the process as well. Moore pointed out that many property owners may only need to sign their schedules and return them if no new purchases occurred.
The county assessor needs to have the owner’s depreciation worksheet to determine what items are eligible for taxation. This worksheet is initially used for federal income tax purposes. Personal property in Nebraska is taxed on a net book value, or purchase price minus federal depreciation.
Only the assessor and his staff will have access to the individual schedules that are filed electronically. Once that schedule is filed, only the assessor’s office can edit the form, although it may be returned via email to the owner for a change if one is needed.
“It is imperative for those who owned personal property and reported it to my office in 2013, to contact the office again this year, even if it’s to let us know the property is gone.
We are required to file a schedule on the owner’s behalf despite facts that are unknown to us. If an owner doesn’t clear the record in some fashion, it remains active and may generate a tax statement,” Moore said.
There are penalties involved for late filing based on the amount of tax to be paid—not on the valuation. The late fee initially adds 10 percent onto the taxes, but Moore said that figure could jump to 25 percent for someone who is excessively late. May 1st is the filing deadline.
Even if an owner does not receive a schedule, he or she is still required to file, he said.