BUSINESS PROPERTY is all equipment, furniture, fixtures, etc. used in a business. Business Property is assessed at a percentage of original cost using the following depreciation schedule: 1st year - 35% 2nd year - 30% 3rd year - 25% 4th year - 20% 5th year and all subsequent years - 15%
MACHINERY & TOOLS is equipment used in manufacturing, mining, processing or reprocessing, radio or television broadcasting, cable television, dairy, dry cleaning or laundry business, and trucks used for hire that qualify as common carriers.
MERCHANTS CAPITAL is inventory of stock on hand and is assessed at 100% of cost. CLOSED OR SOLD BUSINESS: If you closed or sold your business, the county requests you fill out an affidavit stating such.