Personal Property FAQ
What is taxable personal property?
Taxable Personal property is defined as tangible, depreciable income producing property including machinery and equipment, furniture and fixtures. This must be filed between January 1st and May 1st of each year.
Who must file a Nebraska personal property return?
Anyone that owns or holds any taxable, tangible personal property
on January 1, 12:01 a.m. of each year.
Anyone that leases personal property to another person.
Anyone that leases personal property from another person.
Anyone that brings personal property into Clay County between
January 1 at 12:01 a.m. and July 1, must list the property for
assessment before July 31, unless it can be shown that the personal
property was purchased after January 1 or that it was listed for
assessment in another jurisdiction.
What information do I need for a Personal Property Return?
Information on a schedule includes: Name, Mailing Address, Physical Address, Description of Property, Year Property is Purchased, Number of Units Purchased, Years Depreciated, and Taxable Value. Years depreciated depends on the type of equipment.
When do I need to file my return?
The schedule must be signed every year between January 1st and May 1st letting us know what was owned as of January 1st. If a schedule is not signed by May 1st a 10% penalty will be added to the tax bill. If a schedule is not signed by August 1st a schedule will be prepared by our office for you and a 25% penalty will be added to the tax bill.
If I pay sales tax do I still have to pay Personal Property Tax?
Yes. There is a common misconception that you may choose to pay either the sales tax or property tax…this is not true.
