Taxpayers owning more than $52,000 in total actual value of personal property per county are required to complete and return the Personal Property Declaration Schedule to the assessor by no later than April 15 of each year. Taxpayers must provide a list of all property owned or in the taxpayer's possession or under the taxpayer's control as of January 1. The property must be described in sufficient detail for the assessor to make a valuation as required by §§ 39-5-107, 108, 110(1), and 114, C.R.S.
Taxpayers should include a listing of any leasehold improvements, also known as tenant improvements or trade fixtures, on the declaration schedule as required by §§ 39-5-108 and 116, C.R.S.
Taxpayers may request an extension of ten or twenty days for filing the personal property declaration schedule. Any requests for extension must be made in writing to the county assessor by April 15. The fee for extension is two dollars per day for the number of days requested ($20 or $40), regardless of the number of schedules to be filed by the taxpayer as required by § 39-5-116, C.R.S.
Failure to File
When the taxpayer fails to return a declaration schedule required by statute by April 15, or if no request for extension was filed, or if the declaration is submitted after the last day of the extension period, the assessor shall impose a late filing penalty of 15 percent of the taxes due or $50.00, whichever is less, pursuant to § 39-5-116, C.R.S. The failure of the assessor to receive a declaration schedule required by statute does not invalidate an assessment based upon the "Best Information Available" (BIA). Assessors may make BIA valuations based upon the "Best Information Available" to them as permitted by §§ 39-5-116 and 118, C.R.S. For more information on BIA assessments, see Assessors' Reference Library, Volume 5.
The Personal Property Declaration Schedule and any attachments to it are private, confidential documents as required by § 39-5-120, C.R.S.
Frequently Asked Questions
Where do I file the declaration?
Declaration schedules should be submitted to the local county assessor.
Do I have to file a declaration every year?
Yes, all owners of taxable personal property are required to file a declaration schedule every year even if there are no changes from the prior year's filing.