Personal property, sometimes called tangible property, consists of items such as office furniture and machines (computer, phone systems, fax), store fixtures, machinery (manufacturing and nonmanufacturing), raw materials, inventory, livestock and many other items that may have value and utility.
In Kentucky, if you own a business of any kind - large or small - as of January 1, you are required to file a tax return listing the value of your personal property with the PVA Office. You must file a tangible property tax return for each property located within Kentucky. The return must include the property location by street address and county. A post office box is not acceptable as the property address.
Personal Property Tax Returns are due by May 15 each year and cannot be filed with your income tax return. There is no filing extension provision for tangible personal property tax returns. All returns postmarked after May 15 are considered omitted and will be assessed additional penalties and applicable interest by the Finance & Administration Cabinet.
If you have any questions regarding personal property, you may contact Leslie Beatty at 859-246-2722 ext. 235 or by e-mail at Leslie.Beatty@ky.gov.
When filing your personal property return, please remember that:
You should enter your Social Security or Federal Employer Identification Number on all returns, schedules, attachments and correspondence.
You must sign all returns and include valid telephone number(s).
All personal property tax returns are filed with the PVA by May 15.
All returns postmarked after May 15 will be assessed additional penalties and applicable interest.
Personal property returns cannot be filed with income tax returns
Payments should not be sent with the return. Tax bills will be mailed no earlier than September 15 and checks should be sent to and payable to the Fayette County Sheriff.