Most states tax tangible personal property used in a business on an annual return that lists assets by class, original cost and year of acquisition as of an assessment date, usually 1 January. Twelve states levy none. Texas renditions are due 15 April; California property statements are due 1 April. The register, cut by jurisdiction, is the return.
Most states tax what the register lists.
In most of the United States, tangible personal property used in a business (machinery, equipment, furniture, computers, vehicles in some states) is assessed for property tax each year on a return the business files: a rendition in Texas, a property statement in California, a personal property return elsewhere. The return lists assets by class and year of acquisition at original cost, and the assessor applies its own depreciation factors to arrive at a taxable value. Twelve states levy no such tax. Inventory is generally excluded, intangibles always are, and licensed vehicles are handled separately in many states.
| Pattern | Where | What is filed and when | Source |
|---|---|---|---|
| No tax on business personal property | Delaware, Hawaii, Illinois, Iowa, Minnesota, New Hampshire, New Jersey, New York, North Dakota, Ohio, Pennsylvania, South Dakota | Nothing; the register still supports insurance and the audit | State property tax codes |
| Rendition to the appraisal district | Texas | Form 50-144, assets owned on 1 January, due 15 April, extension to 15 May on request; 10% penalty for failure to render | Texas Tax Code sections 22.01, 22.23 and 22.28 |
| Business property statement to the county assessor | California | Form 571-L, property held on 1 January (the lien date), due 1 April, 10% penalty if filed after 7 May | California Revenue and Taxation Code sections 441 and 463 |
| Annual return by cost and year of acquisition | Most other states with a personal property tax | A listing by class and year with original cost; the assessor applies its own depreciation factors; assessment date usually 1 January, deadlines between February and May | Each state's revenue or assessor rules |
The rendition is the register, cut by jurisdiction.
The assessor wants, for each taxing jurisdiction where the business has property, the assets located there on the assessment date, grouped by the assessor's classes, with cost and year of acquisition, and the assets disposed of since last year's filing. A register that carries the location on every asset, the jurisdiction on every location, the assessor's class beside the tax class, and dated disposals produces the listing as a report. A register that does not produces a spreadsheet each spring, and the spreadsheet is where the ghosts live: the ghost assets article covers why an asset that no longer exists keeps paying property tax until it is removed.
What the assessor's factors do.
Assessors do not use MACRS or the book life. Each publishes depreciation factors by class and age that convert original cost into taxable value, often with a floor (a percentage of cost below which value does not fall while the asset is in use). Fully depreciated assets on the books are still assessed at the floor. The consequence for the register is that disposals must be recorded when they happen, that cost must be original cost and not net of trade-ins or grants where the rules say so, and that the year of acquisition must be right, because a factor applied to the wrong year is a wrong tax for the asset's whole life.
| Exception | Asset | Description | Register location | Found at | NBV | Action |
|---|---|---|---|---|---|---|
| Not found | 09877 | Forklift, unit 3 | Warehouse | 0.00 | Review for write-off | |
| Wrong location | 10603 | Warehouse racking, aisle 3 | Warehouse | Plant 2 | 14,876.46 | Transfer |
| Not on register | Pallet wrapper, tag W-0448 | Warehouse | Add asset | |||
| Not found | 10231 | Laptop, S/N 7HQ2 | Warehouse office | 312.50 | Review for write-off | |
| 409 matched · 2 not found · 1 wrong location · 1 not on register | ||||||
What to record on the asset.
- The location of every asset and the taxing jurisdiction of every location.
- The assessor's classification beside the book and tax classes, where they differ.
- Original cost and the year of acquisition, as the assessor defines them.
- Disposals with dates, so the return drops what is gone.
- The filing date, the form, and who signed it, for each jurisdiction and year.
In Fixed Asset Desk: the property tax listing by jurisdiction, with original cost and year of acquisition, is a standard report in the format most assessors accept.
Sources: Texas Tax Code chapter 22 (renditions and other reports), sections 22.01, 22.23 and 22.28; California Revenue and Taxation Code sections 441 and 463; state property tax rules as summarised by county assessors and appraisal districts. Checked 20 September 2026; confirm deadlines with the assessor each year.