Personal Property

 

Personal Property Information

A Form of list (State Tax Form 2) must be filed each year by all individuals, partnerships, associations, trusts, corporations, limited liability companies and other legal entities that own or hold taxable personal property on January 1.  This is a state law, Mass general law chapter 59 sec 29.  A form must be filed by March 1 even if you are considered to be exempt from personal property tax.  If a form is not completed and returned to the Board of Assessors then personal property value will be assessed by the Assessors using the standard assessing practices available for your type of business.