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Personal Property Overview

All non-exempt tangible business personal property is valued and assessed annually by the Personal Property Division of the Assessor’s Office. Taxable personal property is primarily that which is used in the operation of a business, mobile homes, aircraft, and motor vehicles. All businesses are required to declare their taxable property to the Assessor annually. The statements are mailed to all Salt Lake County businesses on the tax rolls during January and February.

The taxpayer has 60 days to complete the statement and return it with payment of the tax.

Statutory citations regarding the assessment of personal property are contained in Title 59, Chapter 2 of the Utah Code. New businesses should register with the Assessor when taking out a business license to avoid assessment of escaped property taxes. Certain types of property and some entities are exempt from property taxes. The personal property tax is collected and apportioned to the county, cities, school districts, and other taxing entities to pay for local governmental services.