Personal Property Owner;
Linked here* are the Personal Property Declaration Forms , Manufacuring machinery and Equipment (M65) and the Personal Property Supplemental form, which owners of taxable personal property are required to file. All questions must be answered. In as much as recent changes have been made to the filing requirements the notation “Same as Last Year” cannot be used on the return. Each section except that labeled “For Assessor Use Only” must be completed. While forms are available for downloading from this site, they must be submitted, in person, at the Assessor's office. No on-line or electronic filing is available.
This return must be either (1) signed by the property owner, or (2) signed by an authorized agent of the owner (in which case the return must be notarized).” “Owner” means the person who holds legal title to the personal property for which information is required, regardless of who is responsible for paying the property tax. In the case of a corporation, the word “owner” includes any officer. “Agent” is defined as any person duly authorized by the owner to file on his behalf.
You must file this return in the appropriate town on or before November 1st, or a 25% assessment penalty will be applied. If a penalty is applied, the action, which may be taken by the Board of Assessment appeals, (should you decide to appeal your assessment) is sharply curtailed (Sec. 12-114).
Section 12-41 requires all personal property owners to annually file an itemized property list with the Assessor. Residents must file in the town in which their property is located on the October 1st assessment date. Non-residents (i.e. persons with property located in a town in which they do not have a business location) must file in the town where the property situs has been established under the “three month rule” (Sec. 12-43). Situs for corporation property is determined under Sec. 12-59 (and Sec.12-43, if applicable).
Sec. 12-43 specifies that property of non-residents is taxable in the town where it is located for 3 or more of the 12 months preceding the assessment date. Even if the property has been sold, or was not located in the state on the assessment date, it must be reported if it meets the “three month rule”. If property was located in more than one Connecticut town preceding the assessment date, it is taxable in the town in which it was located for three or more months closest to the assessment date.
Information under the column labeled “Owner’s Valuation” is optional except for Codes 13 & 23 (see instructions). It is to your advantage, however, to provide the requested information for all categories. Otherwise, the Assessor will be forced, per Sec. 12-63 guidelines, to estimate an assessment based upon 70% of a property’s fair market value. A common method for determining personal property value is the depreciated cost-in-place method, as part of that process you may be asked to file a Confidential Report (please note: such reports may be considered confidential and therefore not open to public inspection).
All property, including items fully depreciated (or “written off”) for IRS purposes, must be reported. If you, however, have no property to declare, return the M-15 Form to the Assessor with a brief explanation.
The Assessor has the right to audit your books and reports, within 3 years of the date the return id filed. Substantial penalties are applicable if such an audit reveals that the property has not been filed as is required by law (Sec. 12-53).
* Forms on this page require Adode's Acrobat Reader. This is a free download from Adobe.
If you need it click on the icon below to begin that download.
While forms are available for downloading from this site, they must be submitted, in person,
at the Assessor's office. No on-line or electronic filing is available.
For additional information contact the Assessor's Office at (860) 644-2511 ext 211
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