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1. What is personal property?

According to Nevada Revised Statutes, all property that is not defined or taxed as "real estate" or "real property" is considered to be "personal property." Taxable personal property includes manufactured homes, aircraft, and all property used in conjunction with a business. Business personal property is taxable whether it is owned, leased, rented, loaned, or otherwise made available to the business. The taxation of business personal property has been in effect since Nevada became a state in 1864. Nevada Revised Statutes, Chapter 360-361, provide for the taxation of all property, unless specifically exempted by law.

2. What types of business personal property are exempt from taxation?

Property that is exempt from taxation includes business inventory held for resale, consumable supplies, livestock, boats, and personal household belongings. The exemption of household goods does not extend to personal property or furnishings rented or leased to another party or rented in conjunction with the rental of a dwelling unit. Motor vehicles required to be registered with the Nevada Department of Motor Vehicles and Public Safety are exempt from the property tax, though subject to a governmental service tax.

3. Who must file a business personal property declaration with the Assessor?

All businesses having assets within Churchill County must complete and file an annual declaration which lists any personal property that is used in conjunction with the business as of the lien date, which is July 1st. The declaration is normally filed during the month of July each year. If the declaration is received by the business at any other time, it is due within fifteen days of receipt. New businesses should contact the Churchill County Assessor at the same time the business license is acquired, or prior to opening the business. Please remember, the responsibility of keeping the Assessor informed of any changes in the business address, location or mailing change, is that of the taxpayer. To add a new business or change information regarding an existing business, a declaration is available below to download. Please complete this form and return it to our office.

4. What is the purpose of the declaration?

The completed declaration provides most of the information needed to determine the taxable value of the business personal property. All personal property used for the business should be listed completely and accurately. The cost and year of acquisition should be listed on the declaration. The cost is defined as the purchase price of the item, including any applicable shipping and installation charges. The year of purchase or acquisition is needed so that the value of the property can be reduced by any applicable depreciation. The depreciation factors are based on expected life schedules prescribed by the Nevada Tax Commission through the Personal Property Manual.

NV State Dept of Taxation Personal Property Manual

5. When may a business expect a personal property tax bill?

Though the declaration may be completed and returned to the Assessor in July, the personal property tax billing may be calculated and sent any time between the time it is received by the Assessor and the following April 30. The returned declaration will be processed by the appraisal and billing staff as the declaration is received. The appraisal staff may conduct field verifications of any data on the completed declaration. The tax billing becomes delinquent and subject to a penalty 30 days after the first billing date.

6. How is the tax computed?

In Nevada, property taxes are based on "assessed value." In the case of business personal property tax, a "taxable value" is arrived at by reducing the original or acquisition cost by the applicable depreciation factors that may be found in the schedules which are linked above. Assessed value is computed by multiplying the taxable value by 35%, rounded to the nearest $1.00. To calculate the tax on your business that does not qualify for the tax abatement, let’s assume you have a business with the following equipment in the City of Fallon with a tax rate of $3.50 per hundred dollars of assessed value. To determine the tax see the example below: 

Office furniture was purchased one year ago at a cost of .....................$1,200

The taxable value after depreciation is 1,200 x .87 = ...........................$1,044

A computer was purchased year ago at a cost of ................................$1,000

The taxable value after depreciation is 1,000 x .33 = ..............................$330

The total taxable value for above equipment is 1044 + 330 = ..............$1,374

The assessed value for the above equipment is 1,374 x .35 =................$481

The tax on the equipment would be 481 x .035 = ............................... $16.84

**The tax rates vary by district.

7. How do I obtain a business personal property declaration?

Declarations are normally mailed to businesses of record by July 1 of each year. If you do not receive a declaration by July 15, please call our office at (775) 423-6584. The office is located at 155 North Taylor Street, Suite 200, Fallon, NV 89406.

8. Where can I get assistance in completing the business personal property declaration?

Most questions pertaining to the Business Personal Property Declaration can be answered by calling our office at (775) 423-6584. Our staff is happy to answer any questions you may have regarding the Business Personal Property Declaration, or schedule a convenient time to meet with you. Real and Personal Property Appraisers must be certified by the State of Nevada, and are required to maintain the certification through a program of continuing education.