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Personal Property Taxes

About the Personal Property Tax

  • Each year, all proprietors, partnerships, associations, trusts, and corporations must file a Form of List declaring their assets and values
  • Residents with large assets (>$10,000 in value) should also file a Form of List
  • In Massachusetts, material non-real estate goods used in the course of business are subject to a personal property tax
  • These material can range from diner chairs to dentistry machines to poles and conduits used by power companies

Billing

  • This tax is assessed as of January 1st and is billed in arrears
  • A bill will not be issued until the fiscal year after the year in which the business was established or asset was acquired
  • A tax bill will be issued in the fiscal year after the business is closed or asset is sold

Filing Form of List

  • Due March 1st
  • If no form is filed, the office will make an estimation of value
  • In some cases, an inspection of the premises may occur
  • Return it to the Board of Assessors by the filing deadline

Abatement

  • Deadline for filing an abatement application is February 1
  • After the filing deadline, the Board will review the abatement application and determine whether an adjustment in value is warranted
  • Having no Form of List on file will make it more difficult to be granted an abatement
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