Personal Property
Why did I receive a personal property declaration?
The Assessor’s Office has information that you are operating a business OR have an unregistered or out of state registered motor vehicle on your property.
My business is small/just starting up/does not make a profit. Do I still have to file a declaration?
Yes, regardless of how small the business is, or what profit you are making, Connecticut law requires all businesses to declare their property annually.
My business is in another town. What should I do?
Contact the Assessor’s Office so that we can verify this information and delete the account in Putnam.
I do not believe I am required to file a declaration. What should I do?
Contact the Assessor’s Office immediately. Do NOT ignore the declaration. If you do not respond, the Assessor’s Office must assume that you own taxable assets, and you will receive a tax bill the following July.
Is this a new law? Why wasn’t I taxed previously?
This is not a new law. You were not taxed previously because the Assessor’s Office only discovered your business or vehicle recently.
How did you discover my business/out of state registered vehicle/unregistered vehicle?
The Assessor’s Office has a duty to discover property to add to the Grand List. Discoveries are made by reviewing trade name certificates, local advertisements, Planning and Zoning Commission minutes, building permits, state licenses, LLCs registered with the state, and visual inspections.
What happens if I do not file a declaration?
If you do not file a declaration, the Assessor will still assess your property using the best information available and you will still receive a tax bill with the applicable assessment plus 25% penalty.
What do I have to report on the declaration?
For businesses, you must report the original purchase price and year of all assets your business owns, uses, expenses, etc.
For owners of unregistered or out of state registered motor vehicles, you must report information such as year, make, model and VIN.
How do I find the original purchase price for my assets?
Your financial records and tax returns are the best place to look for purchase prices. Most businesses have an accountant fill out the declaration for them.
How do I value property that was given to me, or that I purchased personally prior to starting a business?
Please use your best educated guess for fair market value on the date you were given the property, or the date you converted the property to business use.
What happens if I file the declaration late?
The declaration is due by November 1st annually (extended if November 1st falls on a holiday or weekend). A 25% penalty will be applied to the assessment. Filing late is also a waiver of any applicable exemptions.
Can I call to ask for an extension?
Extensions to file the declaration must be received in writing by November 1st. If approved, you will receive a letter extending the deadline to December 15th.
Are there any exemptions I might qualify for?
The most common exemptions are available to farmers and manufacturers. Both require a specific form to request the exemption. Please contact the Assessor’s Office for more information.
How much is my tax bill going to be?
Your tax bill cannot be calculated until the mill rate is set by the town, usually in the spring.
Can a declaration be audited?
Yes, the Assessor is authorized to audit declarations within 3 years of the date of the required filing. The 25% penalty is applicable if such an audit reveals property not declared as required by law.
Can I file the required information in a different format?
No. Connecticut law requires this specific declaration to be used and requires Assessors to reject any other format.
Can I submit the declaration via email?
Yes. Declarations can be mailed or emailed.
Why does the form refer to personal property if I am reporting property owned by a business?
“Personal property” is an unfortunately confusing term that we must use. Personal property is, by definition, any property that is not real property (land and buildings). In Connecticut, most personal property is not subject to taxation. The two categories of personal property that are taxable in Connecticut are: 1) motor vehicles (whether registered or not); and 2) income producing property or property used in business.
What if I am not the owner of the vehicle that was identified on my property?
Contact the Assessor’s Office immediately so that we can update this information on our end.
What if my vehicle is registered in another state?
If a vehicle is registered out of state or in another Connecticut town but is garaged in Putnam, it is still liable for taxation in Putnam.
What if my vehicle is in rough shape?
If a vehicle in disrepair, unable to be driven, etc., it is still liable for taxation until it is removed.