Business Personal Property
Business personal property is composed of tangible assets, other than real property, held for use in a business. Taxable business personal property includes, but is not limited to; inventory, supplies, furniture, fixtures, equipment, leasehold improvements, and rental furnishings.
About Your Business Property Assessment Return
Business personal property taxes are used to pay for local government services such as schools, roads, police and fire protection. Business property owners that have assets valued at more than $20,000 must annually complete and file a business property assessment return reporting the cost of all business personal property owned, possessed, or controlled as of January 1. (Visit our Exemptions page for more information on the $20,000 Business Property Exemption).
The deadline for the return is April 20th. Returns received after the deadline are subject to a 10% late penalty. If a return is not received then the Assessor is authorized to file an involuntary return for the business, estimating its value. Involuntary returns are also subject to the 10% late penalty.
E-filing
E-filing is no longer available for 2009.
E-filing will not be available again until the 2010 Business Property Assessment Return filing period begins. Watch for your 2010 Business Property Assessment Returns and passwords in the mail next February. If you have any questions contact our office at (907) 343-6770.
Once the return is submitted, either through E-filing or by mailing the paper return, the Personal Property Section will review the return, establish an assessed value, and notify the taxpayer. The Notice of Assessed Value states that an appeal must be filed within 30 days.
Leasing Company Information
Leasing companies are encouraged to file electronically using Microsoft Excel. The file should include the following data:
- identification number assigned by your company,
- the physical address of the asset,
- the description of the asset,
- the Municipality of Anchorage schedule number 1-21 (see the 2009 Business Property Assessment Return for more information),
- the year of acquisition of the asset, and
- the original installed cost of the asset.
Business Property Assessment Returns are not due until April 20th; however, the Personal Property Section will accept electronic files anytime after January 1 of the tax year. Files can be submitted via email to wwbpp@muni.org or sent by disk to: Personal Property Section, Municipality of Anchorage, P.O. Box 196650, Anchorage, AK 99519-6650.
Be advised that assets leased to military installations or other exempt entities are not exempt. You must report these assets and they will be assessed. In addition, the Personal Property Section does not recognize or enforce private agreements purporting to transfer the responsibility to file on business assets. If the assets are not reported, the Personal Property Section will file an involuntary return for the lessor of the assets, subject to the 10% late penalty.