Personal Property Taxation Liability

Owners of Taxable Personal Property are required to file declarations of such with the Office of the Assessor in the municipality where their property is located. Deadline to file declarations is November 1st annually.

The definition of personal property is “property that is not permanently affixed to or part of real estate.” This includes but is not limited to tangible items such as supplies, furniture, fixtures, equipment, and motor vehicles. (Household furniture used exclusively for a residential property is exempt).

Owners of unregistered motor vehicles or motor vehicles registered in another State, are required to notify the Assessor of the municipality where the vehicle “most frequently leaves from and returns to or remains.” –C.G.S. 12-71b(g)

In the event a person fails to file a declaration the assessor shall, fill out a declaration of all property which the assessor has reason to believe is owned by the taxpayer, estimate an assessed value from the best information available and add a twenty-five percent assessment penalty.-C.G.S. 12-42 and C.G.S. 12-41(d),(3)

Form M-15: “All leased, borrowed, consigned, loaned, rented or stored personal property not owned by you, but in your possession must be included on the form. Failure to declare, in the form and manner prescribed, shall result in the presumption of ownership and subsequent tax liability plus penalties.”-C.G.S.12-57a

If you have moved, terminated or got rid of personal property, please notify the Assessor in writing. Failure to notify the Assessor that you have terminated, moved or sold your business or personal property will result in the assumption that you still own and are operating the business and “have failed to declare your taxable personal property.”

First time filers are required to submit an itemized asset list of personal property, including description of tangible items, acquisition dates and original cost (including transportation and installation).

As a courtesy, Personal Property Declarations (Form M-15) are mailed to each property owner who has previously registered with our office, during the month of September.

If you have a new business, newly acquired equipment, unregistered motor vehicle(s), or are new to Town, you must contact our office to be placed on the mailing list. ~Simply print and complete the questionnaire below, stop by the office to pick one up, or call (860) 537-7205 to have one mailed to your attention.

Failure to receive a declaration does NOT nullify obligation to declare taxable personal property to the Assessor in the form and manner prescribed by November 1stIf you fail to file at all, our office must add a 25% penalty and go back for prior years.

Blank forms are available for printing below. The short form will suffice for 90% of the Personal Property Taxpayers in Colchester.

If there are any questions while completing the form, please do not hesitate to contact Holly Cavanaugh at (860) 537-7205. ~Many questions can be answered over the phone.

Personal Property Forms