If you operate a business in the State of Oregon, you must file an annual return listing the equipment used to run your business.
By Oregon law, business personal property is taxable in the County where it is located as of January 1. Each individual, partnership, firm, or corporation that has taxable business personal property must file an annual business personal property return to the County by March 15th.
Examples of taxable business personal property include:
- Equipment used in a business (including items not being used or placed in storage)
- Leased equipment
A list of items that are taxable and need to be reported can be found on the final page of the business personal property return.
Examples of business personal property that do not need to be reported include:
- Land and physical structure
- Software and business records
- Farm Animals, farm machinery, and equipment
- Licensed vehicles (other than fixed-load equipment)
- Inventory held for sale
Late filing will result in a penalty assessed to the November tax statement.
- If the return is postmarked or received after March 15, but on or before June 1, a late filing penalty of 5% of the tax is charged.
- If it is postmarked or received after June 1 but on or before August 1, a late filing penalty of 25% of the tax is charged.
- After August 1, a late filing penalty of 50% of the tax is charged.
Filing extensions are not available (ORS 308.290)
Property tax statements for Business Personal Property are mailed to taxpayers in late October. Taxes must be paid by the due dates shown to avoid interest charges. A 3% discount will be applied if the tax statement is paid in full by November 15. A 2% discount will be applied if 2/3 of the tax statement is paid by November 15.
Where do I mail my completed return?
Lincoln County Assessor
225 West Olive Street
Newport, Oregon 97365
If you are buying a business, it is important you contact the Assessor's office to make sure there are not any outstanding taxes due on the equipment you are buying. Delinquent taxes become a lien on the personal property of a business.
All taxpayers starting a new business in Lincoln County should contact the Assessor's office. An account will be set up and a personal property return will be sent out the following year. If the taxpayer does not receive a return, they need to contact the assessor to request one.
If you disagree with the county's valuation of your business personal property, you may file an appeal with the Board of Property Tax Appeals (BOPTA). The filing deadline for BOPTA appeals is December 31.
Business Personal Property Taxes Explained
(Video courtesy of Oregon Association of County Tax Collectors)