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Business Personal Property Business personal property can be defined as all tangible personal property employed in a trade or a business. Businesses are assessed on, but not limited to, office furniture, fixtures, equipment, machinery and tools, merchant's capital and computer equipment. Tax Rates Furniture and fixtures - The 2004 tax rate for Furniture and Fixtures is $.875 per $100 of assessed value. This reflects no effective change from last year's rate. The assessed value is based on taking 100% of the original cost. Merchant's Capital - The 2004 tax rate for Merchant's Capital is $.75 per $100 of assessed value. This reflects a $.15 decrease from last year's rate. The assessed value is based on taking 100% of inventory as of January 1st. Machinery and Tools - The 2004 tax rate for Machinery and Tools is $.90 per $100 of assessed value. This reflects a $.025 increase from last year's rate. The assessed value is based on taking 100% of the original cost. Filing Due Date Business personal property returns must be filed annually by May 1st.
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