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1. Who has to pay Personal Property Tax?

All persons possessing or controlling personal property with a total actual value greater than $52,000 (per owner, per county) on January 1, 2023 are required to report their personal property to the Assessor by April 17, 2023. Personal Property Declaration Schedules are mailed to every person, business, or company known to own, possess or control taxable personal property in the county during the month of January.

2. What is Taxable Personal Property?

Taxable Personal Property includes:
Short term rental residential household furnishings which are used to produce income.
All equipment, furniture, and machinery used by commercial, industrial, and natural resource operations.
Property used in an agribusiness that does not qualify as agricultural.
Personal property in storage that is subject to IRS depreciation
Leasehold improvements.

3. How and when is my personal property valued?

The value of your personal property is based on information submitted by you on your Personal Property Declaration Schedule, which is sent to you in January. You must return (file) your Personal Property Declaration Schedule by no later than April 15th of each year. The information you provide on your Personal Property Declaration Schedule includes the original cost or the item and the year the item was put in service. A depreciation schedule is used to adjust the value of the item according to type and industrial life span of the personal property. If you fail to return your Personal Property Declaration Schedule, the value of your personal property will be determined using “the best information available.”

4. Can I get a list of the Personal Property items I have submitted?

You, as the owner of the property, are the only one who can view the detailed list of any personal property reported on your Personal Property Declaration Schedule.

5. What is a Personal Property Notice of Valuation?

Your Personal Property Notice of Valuation is a document sent to you by June 15th of each year giving you the current value of your personal property based on the information you provided in your Personal Property Declaration Schedule. If you did not return or ‘file’ your Personal Property Declaration Schedule, the value stated in your Personal Property Notice of Valuation will be based upon “the best information available.”

6. What if I do not receive a Personal Property Notice of Valuation after filing my Personal Property Declaration Schedule?

If the value of your personal property as reported in your Personal Property Declaration Schedule is less than $52,000 (the Exemption Level), then a Notice of Valuation will not be sent and you will not be taxed for your personal property.

7. If I disagree with the value of my personal property, what remedies do I have to change it?

Owners of taxable personal property may challenge the County Assessor’s valuation of their property between June 15 and June 30 of the current tax year. A Personal Property Protest Form is attached to the taxpayer’s Personal Property Notice of Valuation. Taxpayers who disagree with their personal property valuations may object by U.S. Mail, by FAX, in person. If the taxpayer wishes to protest by mail, the protest must be mailed to the San Miguel County Assessor, P. O. Box 506, Telluride, Colorado, and postdated no later than June 30. If the taxpayer wishes to protest by FAX, the protest must be FAXED to 970-369-1007 by no later than 5:00 PM Mountain DST on June 30. If the taxpayer prefers to protest in person, the protest must be delivered to the offices of the County Assessor, 333 Colorado Avenue, Second Floor, Telluride, Colorado, by no later than 5:00 PM Mountain DST on June 30.

8. Where do I get a Personal Property Protest Form?

A Personal Property Protest Form is included in your Personal Property Notice of Valuation, or you can download a Personal Property Protest Form online.

9. How do I learn the results of my protest?

The Assessor must make a decision on your protest and mail you a Notice of Determination by July 10, 2023. If you are satisfied with the Assessor’s determination, the tax bill you receive the next January will be based on the value and classification reflected on the Notice of Determination.

10. If I disagree with the Assessor’s decision, how do I appeal it?

If you are not satisfied with the Assessor’s determination, or if you do not receive a Notice of Determination from the Assessor, you must file a written appeal with the County Board of Equalization (P. O. Box 1170, Telluride, Colorado 81435) on or before July 20, 2023. The County Board of Equalization will notify you by mail of the hearing date, time and place where you may present evidence to substantiate your case. Note: To preserve your appeal rights, you may be required to prove you have filed a timely appeal; therefore, we recommend all correspondence be mailed with proof of mailing.

11. What kind of ‘evidence’ do I need to present to the County Board of Equalization?

Evidence includes documentation such as the purchase price and date of purchase of the items under dispute.

12. How do I learn the results of my appeal to the County Board of Equalization?

The County Board of Equalization will conclude hearings and render decisions by the close of business on August 5th. The County Board must mail you a decision within five business days of the date of its decision. If you are satisfied with the County Board’s decision, the tax bill you receive next January will be based on the valuation and classification reflected in the County Board’s decision.

13. If I disagree with the County Board of Equalization’s decision, how do I appeal it?

If you disagree with the decision of the County Board of Equalization, you may file an appeal with the State Board of Assessment Appeals or the District Court, or you may request a binding arbitration hearing. Your appeal of the County Board of Equalization must be made within 30 days of the date of the County Board’s decision.