4035 E. Harry
Wichita, KS 67218
Contact the Appraiser's Office
The Business Personal Property Division appraises all business tangible personal property, also known as
commercial and industrial machinery and equipment. Article 11, Section 1 of the Kansas Constitution establishes that these assets are assessed at 25
percent of their appraised value.
Any tangible personal property purchased and
used to produce
income or is depreciated or expensed for IRS purposes (except state assessed property and
motor vehicles) is assessable as Commercial and Industrial Machinery and Equipment (CIME).
Assets which have a "retail cost when new" of
$1,500 or less and are stand alone items are exempt; however, it’s
requested that you list these assets.
Any new assets purchased after June 30th 2006, do not need to be reported or listed on your filing.
The dollar amount an item would cost when new to a purchaser at the retail level of trade.
It is not a used sale price, nor a wholesale or manufacturers cost.
Another way to describe it is the total cost a taxpayer incurs to acquire new property in order to produce income over a period of years in a commercial or industrial setting. The term "retail cost when new" does not include sales tax, freight
or installation charges
that are separate and readily discernible from the set retail price.
The Kansas Constitution provides that
commercial and industrial property will be appraised starting at
its "retail cost when new" and depreciated straight line over a
maximum of seven years. If the economic life of the machinery or
equipment is less than seven years, it will be depreciated
straight line over the shorter life. However, so long as the
property is "being used" the appraised value shall not be less
than 20 percent of the retail cost when new of such property.
To determine property tax on business personal
property, the appraised value is multiplied by the appropriate
percentage established in Article 11, Section 1 of the Kansas
Constitution to determine the assessed value.
Article 11, Section 1 of the Kansas Constitution classifies
personal property into the following classes for the purpose of assessment:
Subclass 1: Mobile or
manufactured homes used for residential purposes 11.5%
Subclass 2: Mineral leasehold interests 25/30%
Subclass 3: Public Utilities 33%
Subclass 4: Motor vehicles other than tax-when-tagged
motor vehicles, state assessed motor vehicles and leased motor vehicles that are taxed
based upon their gross receipts 30%
Subclass 5: Commercial & Industrial machinery &
Subclass 6: All other tangible personal property 30%
Subclass : All watercraft 5%
The assessed value is then multiplied by the mill levy for the taxing unit in
which the property is located.
Value X Assessment Rate = Assessed Value X Mill Levy = Tax
Depends Anyone owning and/or leasing tangible personal
property prior to July 1, 2006 with the intent to establish a business (home occupations included) whether as an
individual, corporation, or partnership, must file a Commercial Personal Property
Rendition with the County Appraiser's Office per Kansas Statute 79-303 and 79-306.
You will need to provide the following information:
business name; business location; mailing address; owner’s name;
person to contact; telephone number; date business began (in
Kansas); and type of business. Once you provide our office with this
information, we will set your business up in the system and mail you
a personal property return to complete and return to our office.
Just starting a business and need to report the above information?
If you owned or leased personal property as of January 1, you are
liable to report such property by the filing deadline.
Assessment Date (KSA 79-301 and KSA 79-1455)
Deadline for taxpayers to report all personal
Deadline for taxpayers to report oil and gas
Deadline for counties to notify taxpayers of
Deadline for taxpayers to appeal notice of
Note: to avoid incurring state
mandated penalties, renditions must be filed by the deadline date. Counties have no
authority to abate, waive, or refund the penalty mandated by K.S.A. 79-1422. Only
the Board of Tax Appeals has the authority to abate, waive, or refund the penalty.
Mission: To assure quality public services that provide for the present and future well-being of the citizens of Sedgwick County.
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