Business Personal Property
***We currently do have not have online filing capabilities but, for your convenience, please email signed, scanned declarations and Excel listings to firstname.lastname@example.org versus mailing hard copies.***
Commercial Personal Property
In addition to real property valuations, the assessor is required by Colorado State Statutes to value all business personal property for taxation purposes. Business personal property includes machinery and equipment specific to business purposes. All personal property is taxable in Colorado unless specifically exempt by the Colorado Constitution.
The owner of taxable personal property as of January 1st must file a declaration schedule if the total actual value (market value) of all the personal property is greater than $50,000 per county effective the 2021 tax year. All equipment not exempt by law must be listed on the schedule. Assets that are exempt include software and stand-alone equipment with an initial cost of $350 or less.
Declaration SchedulesNew businesses or owners need to submit a complete listing of all taxable assets the first year and simply submit additions and deletions in following years.
The Assessor Department mails the declaration schedules as soon after January 1 as possible. If the owner does not receive a declaration schedule in the mail, one may be obtained from the Assessor by emailing email@example.com or a blank form may be printed from the Colorado Division of Property Taxation page.
The filing deadline is April 15th. Declaration schedules must be received or postmarked by the April 15th deadline every year OR by email (with Excel listing, if applicable) to firstname.lastname@example.org before midnight on April 15th. For years in which the 15th falls on a weekend or holiday, schedules are due the following business day.
The deadline for filing a declaration may be extended if, prior to April 15, the assessor receives a written request by mail or email. The fee is $20.00 for a 10 day extension or $40.00 for a 20 day extension payable to The City and County of Broomfield. The extension applies to all personal property schedules by owner per county.
The late filing penalty is $50.00 or 15% of the taxes due, whichever is less. If the owner of taxable business personal property fails to file a schedule, state law dictates that the property valuation be based on the best information available. A best information available (BIA) value is calculated from aggregated asset lists provided by similar businesses.
Personal Property Protest Information
The personal property Notices of Valuation will be mailed at or around June 15th. The owner or agent on the account may protest up to the June 30th deadline. Protests must be received or postmarked no later than June 30th.
Notices of Determination will be mailed on or before July 10th. The Notice of Determination outlines the process for continuing the appeal and states that the owner or agent has until July 20th to appeal to the Board of Equalization.