Report Filing Requirements
Under Oregon law (ORS 308.290), business furnishings and equipment are assessed as Personal Property each year and must be reported to the Assessment Department. Every person, managing agent or officer of any firm, corporation or association owning or in possession of taxable personal property shall file a return of the property for assessment purposes to the assessor of the county in which such property is situated.
Filing Deadline and Penalties
The Personal Property Return must be filed with the Assessor’s Office by March 1 to avoid a late filing penalty. The penalty is 5 percent of the tax owed if the return is filed after March 1 but before June 1. The penalty increases to 25 percent of the tax owed if the return is filed after June 1 but before Aug. 3. For returns filed after Aug. 3, the penalty is 50 percent of the tax owed (ORS 308.296).
Extension of Deadline
You may request an extension of the time allowed to file your return for “good cause” or “administrative need.” Your request must be in writing and include your account number, if we have assigned one, the name of your business and your name as it reads on the mailing address label of your report form. You must have your request postmarked or hand delivered to our office by March 1. If the extension is granted the new due date will be April 15.
How is the value determined?
Business property value is determined from the information supplied on the Personal Property Return. In order for our office to arrive at an accurate value, be as detailed as possible especially for each item on schedule #5, such as description of item, original cost and month and year of purchase. To ensure the account is calculated at the correct tax code rate, include the situs/physical location of the property as of Jan. 1 at 1 a.m. Your cooperation to help achieve uniform assessments is greatly appreciated.
Leased property must also be reported by BOTH the lessor and the lessee. The lease agreement determines which party will be paying the taxes.
Need copies of work papers?
If you would like a copy of our work papers after we have processed your return, please include a note requesting them and a SELF-ADDRESSED STAMPED ENVELOPE that is large enough to return the information to you. If you don’t include a self addressed stamped envelope that is large enough to enclose the information, we cannot send the work papers to you. If you call and request the work papers at a later date, you will be charged a fee for the copies and a fee for either faxing or mailing them to you.
Because the information filed on the Personal Property Return is confidential, we can fax information if we have your fax number on file. This means you must either fill in the fax number on the Personal Property Return or send us a request in writing that includes the name of the business and the account number and is signed by an authorized agent or owner of the company. (We must already have the signature on file in our office.)
For your reference, general instructions are included with the return. We are happy to answer questions you have in the preparation of the return.
HOW TO CONTACT US:
- Call us at: (503) 325-8522
- Fax us at: (503) 338-3638
- E-mail us at: firstname.lastname@example.org
Mail your inquiries to:
Assessor820 Exchange St., Suite 200
Astoria, OR 97103
For other information about Personal Property taxes, please visit the Oregon Department of Revenue web site.