Effective January 1, 2016, January 1st is the lien date for all personal property in the State of Indiana. May 15th is the filing date for this property. To avoid a late penalty, a taxpayer must file a personal property return with the Wells County Assessor’s Office by May 15, of each year.
The penalty imposed for failure to file a timely personal property return is $25.00. If the return is not filed within thirty days of the filing date, there will be another penalty of 20% of the tax finally determined. IC 6-1.1-37-7.
All business tangible property is also to be filed at this time. Leased property is included in these filing requirements. If the taxpayer has leased equipment in their possession or own property that has been leased to someone else, they must report this on a Form 103-N or 103-O.
Business Personal Property Exemption
Starting January 1st, 2022 the Indiana Legislature exempted any taxpayer from filing a Business Personal Property Return if the COST of all of the business personal property owned in Wells County, as of January 1 was less than $80,000.
Churches and religious societies that filed business personal property tax for five years and who were exempt for 5 years will not have to file personal property returns going forward, unless there is a change in ownership or there are changes resulting in the Personal Property no longer being eligible for an exemption. As added by P.L.80-2014, SEC.1. Amended by P.L.249-2015, SEC.3; P.L.199-2016, SEC.1; P.L.273-2019 SEC.2; P.L.153-2021, SEC.1; P.L. 137-2022, SEC.11.
The exemption is automatic—AND—the taxpayer is NOT required to file a Form 103 with the Wells County Assessor.
(f) Beginning after December 31, 2022, a taxpayer that has included the information required under subsection (e) on the taxpayer's personal property tax return to claim the exemption under this section is not required to file a personal property return for the taxpayer's business personal property for an assessment date that occurs after the assessment date for which the information is first provided under subsection (e), unless or until the taxpayer no longer qualifies for the exemption under subsection (d) for a subsequent assessment date.
As added by P.L.80-2014, SEC.1. Amended by P.L.249-2015, SEC.3; P.L.199-2016, SEC.1; P.L.273-2019, SEC.2; P.L.153-2021, SEC.1; P.L.137-2022, SEC.11.
In the event a person commits perjury in signing the certification, the county’s recourse is to confer with its prosecuting attorney.
To view the REVISED IC 6-1.1-3-7.2 concerning this $80,000 exemption, issued by the Department of Local Government Finance June 18, 2021, please click here.
Forms may be acquired from the Assessor’s Office or here on our site
To view the Frequently Asked Questions, Assessment of Personal Property, issued by the Department Of Local Government and Finance on December 2, 2020, please click here. -FAQ-PPOP-IN
To Learn More Information: DLGF: Personal Property (in.gov)
What is PPOP-IN?
Taxpayers and their authorized agents now have the option to file their personal property Forms 102, 103-Short, 103-Long, 103-N, 103-O, 104, and 106 online in the new Personal Property Online Portal for Indiana (“PPOP-IN”). Taxpayers also have the ability to upload additional personal property forms and any necessary supporting documentation. Taxpayers have until Monday, May 15, 2023, to file their business personal property filings either online at https://ppopin.in.gov or by the traditional paper forms.
Application for exemption must be filed before April 1 of the assessment year with the county assessor. The application must be re-filed every even year unless: (1) the exempt property is owned, occupied and used for educational, literary, scientific, religious or charitable purposes; (2) the property continues to meet the requirements of IC 6-1.1-10-16 or IC 6-1.1-10-21; and (3) an application was properly filed at least once in accordance with these statutes.
Form 136: Application for Property Tax Exemption
Predominate Use Worksheet Any exempt applicant with improvements on real estate must file this form with the Form 136.
Affidavit of Parsonage Any religious organization filing for exemption on Form 136 must file this form.
The Wells County Property Tax Assessment Board of Appeals (PTABOA) will meet for the first time in 2023 will be January 23, 2023, in the Commissioner’s Room in the Courthouse Annex at 223 W Washington Street, Bluffton, Indiana at 8:30 a.m. The Board will consider any appeals of property tax assessment or other business properly brought to the board .
Upon completion of the business at hand, the Board will recess until the next succeeding second Monday of the month adjourning sine die in December 2023.
Normally the meetings are open unless and until private financial information of the appellant is being presented.
Once the budgets for local units are certified, anyone interested in estimating their property tax bill may do so using the DLGF’s online property tax calculator at http://www.in.gov/dlgf/4932.htm. Individuals will need their property’s assessed value, deductions, and taxing district to use the tool. The ESTIMATES provided are PROJECTIONS ONLY and SHOULD NOT be taken as a statement of true tax liability, which is determined by the county.