HUNTSVILLE, Tenn. — Scott County Assessor of Property Steve Thompson reminded business owners this week that the annual tangible personal property schedule must be completed and submitted to the assessor's office by March 1.
Tangible personal property schedules include all tangible items used in the conduct of business, such as furniture, computers, fixtures, machinery, equipment and supplies. Property is assessed at 30 percent of its appraised value.
Personal property schedules are in the process of being mailed out to business owners. The mailing process will be complete by the last week of January. Businesses not receiving a schedule can obtain one by calling the assessor's office at 423-663-2420.
The assessor's office is required by state law to place a forced assessment on businesses that do not return a tangible personal property schedule by March 1.