Changes to Property Tax Return Filing, Jan. 28

If you own a business, even a home-based business, Oregon law requires you file a yearly personal property tax return with your county assessor. The deadline to file your return has changed. You must complete and return it to the assessor, file it online, or postmark it on or before March 15, 2016. Extensions are no longer available (House Bill 2484 amended ORS 308.290). Personal property taxes are due November 15, 2016. Check your property tax statements to find out how much you owe. Completed returns must include a detailed list of all business-related personal property, along with equipment purchases or lease dates, and original costs. Personal property includes: * Office furniture, personal computers, and easily moved machinery. * Off-road vehicles. * Display cases if they are used in the business. * Leased equipment including copiers and power washers. The county assessor calculates the tax due each year based on the personal property return. The assessor will not impose a tax if the property value is under the cancellation threshold. Business owners must file a return each year, even if: * You didn’t receive a tax return from the county in which your property is located. * The assessor previously canceled your tax. * You sold or closed your business during the year. * You sold or disposed of your personal property. If a business owner doesn’t file, penalties vary from 5 percent to 50 percent of the taxes due, depending on when the return is filed. Assessors will calculate tax, penalty, and interest for up to the previous five years if a business hasn’t reported personal property in the prior years. For forms and a complete list of taxable personal property, visit www.oregon.gov/dor or call 1 (800)356-4222 toll-free from an Oregon prefix (English or Spanish); (503) 378-4988 in Salem and outside Oregon; or e-mail, questions.dor@oregon.gov. For TTY (hearing or speech impaired), call 1 (800)886-7204.