Business Personal Property

Business Personal Property
Every sole proprietorship, firm, or corporation operating a business as defined in Stats 70.35 is required to complete a Statement of Personal Property and submit annually to the Assessor on or before March 1.  This return is confidential and not available for public inspection. 

Failure to file will result in a "doomage" assessment.  A "doomage" assessment is an estimated value using the best information possible.

Personal Property subject to assessment includes all furniture, fixtures & equipment that is not specifically exempt per statute.

Sec. 70.35 (4) provides that any person, firm, or corporation, who fails, neglects, or refuses to file a return, shall be denied any right of abatement by the Board of Review.

Sec. 70.36 (1) specifies that any person, firm or corporation having personal property subject to assessment that makes a false statement or omits property from the return with the intent to evade payment of taxes on such property, shall forfeit the sum of $10 for each $100 or major fraction withheld from the knowledge of the assessor or Board of Review.

Exempt Computer Equipment and Software (Schedule D-1)
To receive the exemption for computer or computer related equipment, Personal Property Statements must be filed annually by March 1.

Computer Exemption Guidelines for Assessors and Property Owners - Detailed guideline

Property Sold or Moved After January 1

No change in location or sale of any personal property  after January 1st affects the assessment for that year (Sec 70.13(6)).  There is no partial year proration.  You will receive a tax bill for the full year.

If you did not have any personal property in the City of Manitowoc on January 1st, fill out the middle portion on the Statement of Personal Property and check the appropriate box (including the date):

If you fail to notify the Assessor's Office of any change, you may receive a "Doomaged" assessment.


SCHEDULE:  B, C, D, D-1, D-2. F & F-1

1. Enter the costs of new and used assets by the year of acquisition on the appropriate line on Column 2.

2. Column 3 provides for any additions, deletions, or transfers in assets.  If any fixtures have been transferred from another area to the City of Manitowoc, they should be reported under original acquisition year.
3. Column 4 summarizes the original costs of assets by year of acquisition after reflecting any additions or deletions.

Schedule E should include only buildings on leased land.

Schedule F should include all leased assets.  This would include machinery, furniture, mutifunction faxes, copiers, computer equipment, software, cash registers, and single function fax machines.  Use column 6 for taxable leased items and column 7 for exempt computer values.

General office supplies include items which are not subject to resale by the taxpayer but which are necessary to conduct business.

Please be specific when listing leasehold improvements.  Be sure to include the year, description of improvement, and the original cost.