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| ASSESSMENT DATE: |
1-Jan |
| FILING DATE: |
| Jan 1 through March 1; Failure to timely file could result in a 50% penalty on any abatement and loss of right to appeal to the Appellate Tax Board. |
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| PROPERTY TYPE: |
| Real and Personal Property |
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| Massachusetts prescribes no specific depreciation tables, either by statute or regulations. Property in use is considered to have some residual value, even if it has exceeded its useful life, but the exact amount of depreciation and residual value is dependent on the specifics of the property and its use. Assessor should apply physical, functional and economic depreciation, if applicable, in order to arrive at a Fair Cash Valuation. |
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| Personal property generally includes tangible items that are not firmly attached to land or buildings and are not specially designed for or of such a size and bulk to be considered part of the real estate. This includes merchandise, furnishings and effects, machinery, tools, animals and equipment. Personal property will be taxable unless a specific exemption provision applies. All personal property situated in the commonwealth is subject to tax, unless specifically exempt by law. Property is situated in a particular city or town in the commonwealth if it is present on January 1 with the owner's intention that it remain with some degree of permanence. Property that is frequently moved from place to place or intended for use temporarily at different places is considered situated where the owner is an inhabitant or has a principal place of business (if the property is business personal property). |
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| Generally, the owner of taxable personal property situated in any community must file a return, known as the Form of List or State Tax Form 2 ,with the local board of assessors of that community on or before March 1 prior to the fiscal year to which the tax relates, listing the taxable property. An owner of furnishings and effects at a residence in Massachusetts that is not the domicile of the owner, such as at a summer residence or weekend getaway, must file Form 2HF listing those furnishings and effects. Cellular/Mobile telecommunications companies must file Form 2MT. Charitable organizations seeking exemptions under M.G.L. c. 59, §5, cl. 3 must file a list of property exempt from taxation on Form 3ABC . |
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| Examples: Include, but not limited to, property owned by the United States. Personal property of a charitable organization. Exemption of property by an owner if the total value is less than a minimum amount. In some cases the exemptions from personal property tax are offset by another form of taxation, excise or fee. |
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| N/A - Property value is provided with the issuance of the statement of tax due. |
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| For locally valued and assessed personal property, the taxpayer generally must apply for abatement with the local board of assessors within a relatively short period of time after the actual tax bill is issued. |
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| PROTEST DEADLINE: |
| Must be filed by the due date of the first installment payment of the actual tax bill (the first bill stating the value). |
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RIGHT OF APPEAL &
FILING REQUIREMENT: |
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| An abatement application is made on State Tax Form 128, which must be filed by the due date of the first installment payment of the actual tax bill (the first bill stating the value). |
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| Payable in installments: February 1st and May 3rd. |
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Yes. |
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