Personal Property Taxation
According to statute, personal property is every tangible thing which is the subject of ownership, not forming part or parcel of real property. By law, all personal property in this state, not expressly exempt there from, is subject to taxation.
Classification & Assessment of Property Article 11, Section one of The Kansas Constitution provides that: Tangible personal property shall be classified into 6 subclasses and assessed uniformly by subclass at the following assessment percentages:
- Mobile homes used for residential purposes are assessed at 11.5%.
- Mineral leasehold interests except oil leasehold interests the average daily production from which is 5 barrels or less, and natural gas leasehold interests the average daily production from which is 100 mcf or less, which shall be assessed at 25-30%.
- Public utility tangible personal property including inventories thereof, except railroad personal property, including inventories thereof, which shall be assessed at the average rate all other commercial and industrial property is assessed at 33%.
- All categories of motor vehicles not defined and specifically valued and taxed pursuant to law enacted prior to 1985 are assessed at 30%.
- Commercial and industrial machinery and equipment which, if its economic life is 7 years or more, shall be valued at its retail cost when new less 7-year straight-line depreciation, or which, if its economic life is less than 7 years, shall be valued at its retail cost when new less straight-line depreciation over its economic life, except that, the value so obtained for such property, notwithstanding its economic life and, as long as such property is being used, shall not be less than 20% of the retail cost when new of such property and is assessed at 25%.
- All other tangible personal property not otherwise specifically classified is assessed at 30%.
- Watercraft defined as: any boat or vessel designed to be propelled by machinery, oars, paddles or wind action upon a sail for navigation on the water that cannot be exempted by other provisions of law. Each watercraft may include on trailer which is designed to launch, retrieve, transport and store such watercraft and any nonelectric motor or motors which are necessary to operate such watercraft on the water. Watercraft is assessed at 5%.
Listing Personal Property
KSA 79-303 states "Every person, association, company or corporation who owns or holds, subject to his or her control, any taxable personal property is required by law to list the property for assessment." If any person, association, company, or corporation has in their possession or custody any taxable personal property belonging to others, it shall be their duty to list the property with the appraiser in the name of the owner of the property.
Personal Property Rendition By law, every person, association, company, or corporation required to list property must personally sign the rendition. In addition, if a tax rendition form preparer prepared the rendition, then the tax preparer must also sign and certify that the information presented therein is true and correct. (K.S.A. 79-306)
How to File
K.S.A. 79-306 requires all taxable personal property to be listed, by the taxpayer, on a rendition (also referred to as a 'statement') and filed with the County Appraiser on or before March 15th of each year, or the next following business day, if such date falls on a day other than a regular business day. Oil and gas renditions are to be filed on or before April 1.
The County Appraiser may extend the March 15 deadline if the taxpayer submits a request in writing, stating just and adequate reasons for the extension, and is received by the County Appraiser on or before the March 15 due date, April 1 for oil and gas renditions. (K.S.A. 79-1422, K.S.A. 79-332a, and K.S.A. 79-1457).