Business Personal Property

Understanding Business Personal Property in Idaho

Assessor’s Office Business Personal Property Contact Information

• Email: bpp@kcgov.us
• Phone: (208) 446-1523
• Physical Address: 451 Government Way, Coeur d'Alene, ID 83814
• Mailing Address: P.O. Box 9000, Coeur d'Alene, ID 83814

What is Business Personal Property (BPP)?

In Idaho, anything you own as part of your business that isn’t considered real estate is called Business Personal Property (BPP). This includes everything from office furniture to equipment. State law mandates that our office evaluates all business personal property for tax purposes. But there are important exemptions and caveats to be aware of, see below for more information.

You can find more specifics on what qualifies as personal property on the Idaho State Tax Commission’s (ISTC’s)  Personal Property Valuation page. Officially, Idaho law defines business personal property as “everything that's the subject of ownership and that isn't included within the term real property” (see also, Statute 63-201(19), and Property Tax Administrative Rule 35.01.03.205(02, 03).

When the annual declaration is received, assets are loaded into the Business Personal Property valuation system and categorized by type and depreciated on a schedule set by the state. For categories and depreciation schedule, see the Idaho State Tax Commission: Idaho Personal Property Valuation Schedules IPVS.

Industrial companies may qualify for certain exemptions and/or required reporting. If your business is an Industrial category, you will want to include the ISTC Annual Report of Industrial Property – form in addition to the asset declaration (details below).

Filing Requirements

Each year, if your business owns personal property with a depreciated appraised value of more than $250,000 in total (across all locations and ownerships), you must file a declaration of assets with the county Assessor’s Office by March 15^th. Missing this deadline or hiding property could lead to penalties or estimated assessments that could increase the actual tax value. You can download the necessary forms from our website or for existing businesses with a recent filing on our records, request pre-filled forms from us via email at bpp@kcgov.us.

Who Needs to File?

• Existing Businesses: If your business owns non-real estate assets with a total depreciated appraised value of more than $250,000, you should file with each county’s Assessor’s Office. If we have a record from the previous year showing you have this value, you will receive a declaration form from us asking to note items removed or added. Please ensure it is completed and returned by the due date of March 15^th.
• If your 2025 total depreciated appraised value is less than $250,000:
  1. If your 2024 total depreciated appraised value was less than $250,000, we ask that you do not submit a return for tax year 2025.
  2. If your 2024 total depreciated appraised value was more than $250,000 but your 2025 total depreciated appraised value will be less than $250,000, please still submit a declaration so we can update your value.
• Industrial companies must complete the industrial form each year to apply for and ensure exemptions are retained.
• New Businesses: Welcome to Kootenai County! If your depreciated asset value exceeds $250,000, please complete and return a declaration form by March 15.
• If you are not sure about anything, reach out to our office and we’ll be happy to discuss your details or explain further. 

How do I File?

Return a signed Declaration of Assets:

• Digital Preferred: Our preferred option is to send an itemized Excel listing all assets along with a single signed page certifying the Excel provided is accurate and complete. This page does need to be signed by the business owner or someone authorized to sign on behalf of the business. This page can be on your letterhead, or you can print use our form as a cover page to sign. See FAQ below for details on what to include.
• Forms Available: If needed, you can download blank forms for hand-key entry.
  • Business Personal Property: Excel
  • Business Personal Property: Cover Letter to Certify Excel 
  • Industrial Businesses: In addition to the signed declaration of assets, Industrial business will also want to include the ISTC Annual Report of Industrial Property – form.

Exemptions to Know About

Ownership Exemption: Total Depreciated Value $250,000

As of January 1, 2022, the Business Personal Property exemption increased to $250,000.  If the total aggregate value (across all common enterprise ownerships) for non-exempt assets is under $250,000 the business will not receive any request for a declaration and no declaration should be sent. They will not receive an assessment notice or tax bill. A declaration should only be sent if the current tax year’s aggregate depreciated value (across all ownerships) is over $250,000.

Asset Exemptions

Low Value Assets Exemption: Assets under $3,001 purchased after Jan 1, 2013

Individual stand-alone items purchased after January 1, 2013, with a total acquisition and installation cost of $3,000 or less are exempt. Items must be reported as a unit and must include the total purchase price of all components if they don't function independently. Therefore, any items of $3,000 or less (purchased after 01/01/2013) will not be included on the Declarations. See also, Idaho Tax Commission.

Note: If you send a declaration aggregating totals or with quantities, this obscures our ability to recognize whether the assets may qualify for this exemption. 

Example: If you list “Computers” for a total $5,000, we don’t know if there is one computer with multiple parts, or five computers at $1,000 each or one computer at $1,000 and one computer at $4,000. The five computers at $1,000 each would likely be exempt if purchased after 01/01/2023. We don’t know if you are aggregating totals. So, make sure to list individual items, especially if they are lower value items.

Assets related to Construction, Logging, or Mining:

According to statute 63-602KK (2) (d), if an item of Business Personal Property meets all three fo the following, it is exempt:

1. Self-propelled, self-powered, or pull-type equipment and machinery; AND
2. Primarily employed for the use of construction, logging, or mining of salable minerals as defined in section 47-701A, Idaho Code; AND
3. Designed to travel to various job sites.

Note: If you do not provide enough detail for us to identify that an item meets this exemption, we will not know to exclude it. Please include all the details we need to determine this. If you believe one of the property assets may qualify for this exemption, please let us know.

Assets related to Industrial companies

The Idaho State Tax Commission (ISTC) Industrial Form must be submitted to the county each year to retain exemptions. If this form is not turned in, or if exemption related pages are left blank or incomplete, the company may not receive the exemption for that year. Industrial companies must complete the industrial form each year to re-apply for exemptions to ensure they are retained.

Schedules 8 (VIII), 10 (X), and 11 (XI) must be submitted to the BOCC as soon as possible. Therefore, be sure to review and complete the following pages:

• Pollution Pg11 - SCHEDULE VIII WATER OR AIR POLLUTION CONTROL EQUIPMENT DECLARATION
• ExemptInLieuTxCr8-7-03 Pg13 - SCHEDULE X QUALIFIED PROPERTY EXEMPTION IN LIEU OF INVESTMENT TAX CREDIT
• IntangExempt Pg14 - SCHEDULE XI QUALIFIED INTANGIBLE PERSONAL PROPERTY EXEMPTION
• Also review Income Pg16: SECTION E POST- CONSUMER/POST- INDUSTRIAL WASTE EXEMPTION

Business Personal Property Common Facts and Question (FAQs)

Common Issues

1. General Exemption: The first $250,000 of combined business personal property value is exempt from taxation. We often get declarations for companies with a total depreciated value of significantly less than $250,000. We only process declarations that are near or clearly over the total exemption. See details elsewhere in this explainer.
2. Small Items Exemption: Items purchased after January 1, 2013, costing $3,000 or less are exempt and should not be declared. 
   1. Therefore, do not group items together. If you submit grouped items, we will not know if they qualify for this exemption. 
   2. Example: If you list “Computers” purchased in 2022 for $10,000. We have no way to determine if that is two $5,000 computer systems (taxable) or ten $1,000 computer systems (not taxable/exempt).
   3. We need the items listed individually to determine if they meet this qualification.
3. Some (not all) Construction, Logging, Mining Equipment (see 63-602KK (2) (d)): We need good detailed descriptions to determine if they meet this exemption. If you think an item meets this exemption, please let us know. Items are exempt from taxable value if they meet all three of the following:

i. Self-propelled, self-powered, or pull-type equipment and machinery; AND

ii. Primarily employed for the use of construction, logging, or mining of salable minerals as defined in section 47-701A, Idaho Code; AND

iii. Designed to travel to various job sites.

Example: Forklifts - A forklift with small steel wheels that moves only inside of a warehouse is typically not included in this exemption. A Forklift with large rubber tires that moves from site to site would be included in this exemption.

4. Industrial companies may qualify for certain exemptions and/or required reporting. If your business is an Industrial category, you will want to include the ISTC Annual Report of Industrial Property – form in addition to the asset declaration.
5. Lease Hold Improvements are not Business Personal Property assets, and will not be included on the final assessment value.
6. Leased Equipment:

1. If you own the equipment and you are leasing it TO another business, include these in your declaration.
2. If you do not own the equipment and you are leasing it FROM another business, do not include these in your declaration.

7. Vehicles: Registered Vehicles Exempt

1. If a vehicle is registered with the Idaho Department of Transportation - IDOT (aka DMV) it is not considered “business personal property” for the purposes of these declarations. 
2. If a vehicle is a “fleet” vehicle, and is not registered with the Idaho Department of Transportation - IDOT (aka DMV) then it would be included on the declaration. Please see the three point test for “construction, logging, or mining” vehicles for related exemptions.

Closing or Selling Your Business?

Please inform the county assessor's office promptly. It's important to settle any tax obligations before you transfer ownership or move property out of the county to avoid legal issues. 

Common Questions and Responses

• Why is my property on the second roll? Due to processing volumes, some properties are assessed later in the year (see details below). If you need details or believe there’s a mistake, please contact us.
• I think my valuation is wrong, what should I do? If you believe your property’s assessed value is incorrect, reach out to us no later than the appeals deadline listed on your Assessment Notice. We’re here to ensure everything is fair and accurate.

How does it work?

New & Existing Businesses Process Overview 

Here is an overview of things you may want to know as a new Business Personal Property filer in Idaho:

1. Digital Delivery Preferred: Kootenai County prefers assets delivered itemized in Excel, with one signed cover page certifying the Excel list is accurate and complete. While electronic submission via email is preferred, a signature of the business owner or agent, certifying the value, is required. Provide a statement certifying the assets provided are accurate and complete, either on your letterhead or the first page of a blank form from our website, sign it, send that signed letter/form scanned along with digital copy of all your assets (Excel is preferred, if possible).
2. Kootenai County will accept the Annual Asset Declaration physical forms by email or mail.
3. For existing businesses, we send a copy of the assets we already have on file from previous declarations. This serves as a reminder to send in their Annual Declaration no later than March 15, of each year. The business then crosses off any asset they’ve disposed of (disposals) and writes (or type as an appendix) anything new they’ve purchased (additions). Some businesses choose to send our form back blank with “See Attached” written on it, then a separate document or Excel with their assets in their own format instead of using ours. That works for us too. If possible, sending a digital Excel formatted copy greatly assists us in this process, especially for larger asset lists, if you can send it via email to bpp@kcgov.us.
4. For new businesses, please set a list of assets (Excel or Form), for anything purchase prior to Jan 1st of the current tax year; so for tax-year 2025, anything purchased prior to 01/01/2025).
5. For representatives who are not owners of the business, we may request an authorization to act on behalf of the business by included.
6. At minimum, asset lists should include:

• Name/Description of the Asset
• Acquisition Date (date of purchase)
• Acquisition Cost (total cost to purchase).
• Location of asset, if business has more than one location.

Note: It is best practice to provide detailed descriptions and to NOT group assets into categories. See exemptions above.

Often, businesses include make, model, and/or serial numbers or other identifying markers to differentiate between like assets (those additional line items are all optional and may or may not be placed on our records as time for data entry permits). We will do our best to include them when and where possible.

Note: Aggregating quantities of smaller items is not recommended. See exempt items under $3,000.

7. These assets are loaded into the Business Personal Property valuation system and categorized by type and depreciated on a schedule set by the state. For categories and depreciation schedules, or for Industrial forms, see the Idaho Tax Commission.

• Idaho Personal Property Valuation Schedules IPVS
• Annual Report of Industrial Property – form

Note: The Industrial Form is only used for Industrial businesses.

8. The final taxable value will be the net appraised depreciation value, minus any exemptions.

Other Helpful Information

Prepays

Regarding the sale of a business, sometimes a business may be required to pre-pay any taxes owed for the business in the sale transaction. If a pre-pay is requested by the business owner or Title Company, the Assessor’s Office will provide the annual taxable value and Treasurer’s Office will provide a tax quote.

No Taxable Value

If the current aggregate value on file for all business personal property accounts (after depreciation) is significantly under the $250,000 exemption; no declaration requests are mailed for current tax-year and no declaration should be sent/returned. If the value is close or the owner is unsure, they can contact us to discuss.

Second Roll Clarification

There are two Business Personal Property rolls each year. 

• Annual Business Personal Property roll (PP1)
  1. We do our best to get everything onto this roll, but often time does not permit us to hit this goal. With a deadline of 03/15 for returning declarations to us, and a deadline of approximately 04/15 to turn them in for the PP1 roll, there just isn’t enough time. 
  2. Those businesses / accounts that are completed by 04/15 will be on the PP1 and assessment notices will be mailed by the first Monday in June.
• End of Year Business Personal Property roll (PP2)
  1. Any remaining business (or those with extenuating circumstances) will be processed on the PP2.
  2. This roll is typically completed in November, with assessment notices mailed in November or December, depending on the year.

Penalties

Statute allows for penalties to be added if the declaration is not received by March 15th each year. Contact us for details.

Extensions

We do not promote extensions or offer them as a regular practice. The deadline to file is March 15^th each year. However, we understand that sometimes “life happens”. If there is an extenuating circumstance that causes a delay, please let us know and we may be able process your declaration on the End of Year Business Personal Property (PP2) roll (it would still need to be in our hands within a timely manner in order to accommodate that request).

Need Help or Have More Questions?

Our team is ready to assist you with any queries or concerns about Business Personal Property. Contact us at bpp@kcgov.us. Your business is important to Kootenai County, and we aim to provide all the help you need smoothly and transparently.