FUNCTIONS:

  • Property Valuation, Real and Personal, for Tax Purposes
  • Title & Registration of Motor Vehicles

Taxable business personal property can be commonly described as furniture and equipment that is used in the operation of a business.   Buildings and structures are not considered personal property and are taxed separately.  Furniture and equipment not used in the operation of a business is not assessed property taxes.  Business owners list the furniture and equipment used in their business and submit it to the Assessor's office annually.

What Business Personal Property is Assessed?

        Unless specifically exempted, all personal property in Idaho is subject to assessment and taxation. 

ID Code 63-302

        Some examples of taxable personal property consists of items used in a business or farming, such as:
      • Office Furniture (desks, filing cabinets and chairs)
      • Professional Libraries
      • Leased equipment
      • Machinery and equipment
      • Tools (including small hand tools)
      • Signs and Telephones
      • Unregistered vehicles
      • Lease hold improvements such as store counters and display racks
      • Computers (including software), typewriters and office machines
      • Medical/scientific equipment and instruments.

What Personal Property is exempt?

      • Personal effects
      • Household items
      • Non-business apparel
      • Registered motor vehicles
      • Livestock
      • Business inventory
      • Facilities for water or air pollution control
      • Various exemptions allowed under title 63 and chapter 6 of Idaho Code.  (Annual applications are required)

What is Transient Personal Property?

Transient personal property is unregistered farming, construction, logging and mining equipment which spend more than 30 consecutive days in more than one county in the state during the same year. If you own transient personal property, you should consider the county in which you maintain a residence or usual place of business as your home county. ID Code 63-313

What is a Lien Date?

The lien date for real property and most personal property is January 1. For personal property brought into Idaho after January 1, the lien date is the first day in which the property was brought into the state or put into service.

Who assesses personal property in Valley County?

The Valley County Assessor's Office.

How does the County Assessor know what to assess?

If you have taxable business personal property in Valley County, you are required to report it to the Valley County Assessor. This is done by using a Personal Property Declaration, a form available from the Valley County Assessor's Office. The form contains sections for listing personal property by make, manufacturer, year of manufacture, serial number, year acquired and cost, including installation if required.

When must I report my personal property?

You must return your personal property declaration to the Valley County Assessor by the date indicated on the declaration, or no later than March 15. A different deadline may be given if your personal property is missed or your business starts after January 1st. You should file the declaration for transient personal property on or before the first Monday of November of each year with the assessor of your home county. If you own transient personal property, you should notify the county assessor within ten days of entering a county other than the property's home county.

How is my personal property assessed?

Business personal property is assessed by taking the original purchase price, times a replacement trend, minus accrued depreciation to arrive at market value.  The Idaho State Tax Commission does provide depreciation guide lines for each property type.

The value of personal property is included on the assessment notice mailed to you. When you get your assessment notice, please review it carefully to ensure all the information is accurate. Assessment notices are usually mailed by the first Monday in June. However, if you start a new business after January 1 or have transient personal property, the assessment notice for your personal property is usually mailed in December. ID Code 63-308

What if I disagree with the assessed value of my personal property?

After the assessment notice has been sent, property owners have an opportunity to file an appeal.

What happens if I close or sell my business?

If you sell to another person or at a farm auction or close a business, you should notify the Valley County Assessor's Office in writing as soon as possible. The prior owner is responsible for taxes for the entire year, because the lien date is January 1st.

What if a business does not report it's personal property?

The Valley County Assessor is required to assess property which is not declared. The assessment is based on the best information available. Idaho law provides that county officials must double the assessed value of any personal property they discover which has been willfully concealed in order to avoid paying taxes. The assessment is doubled for each year the property escaped assessment. County officials may sell personal property immediately after taxes become delinquent and pay off the tax lien from the proceeds of the sale. ID Code 63-1401

How are my personal property taxes determined?

The market value of your property is one factor in setting the amount of tax you pay. The Assessor does not determine tax amounts. The amount of taxes is determined by the budgets of the taxing districts in which your property is located.

When will I get my Personal Property Tax Bill?

You will normally receive your personal property tax bill by the end of November from the Valley County Treasurer. For transient personal property or December assessments, you should receive the bill in February of the following year.

What happens if my personal property taxes are not paid on time?

Taxes are delinquent if not paid by the due date. Delinquent taxes accrue interest and penalties, which are also a lien against your property. At this point, the Valley County Sheriff may seize and sell your property.

CONTACT US:

assessor

 

Assessor

June Fullmer

Chief Deputy Assessor

Sue Leeper

Office Supervisor

Deedee Gossi

Phone: (208) 382-7126
Fax: (208) 382-7187
assessor@co.valley.id.us
Hours:
Monday - Friday
8:00 am - 5:00 pm

Dept of Motor Vehicles


RENEW ONLINE
Cascade Office:
Phone: (208) 382-7141
Fax: (208) 382-7187
Hours:
Monday - Friday
8:00 am - 5:00 pm
McCall Office:
475 EĀ  Deinhard Ln. Ste 106
Phone: (208) 634-8102
Fax: (208) 485-7558
Hours:
Monday - Friday
8:30 am - 4:30pm