Personal Property Tax Filing Changing

The Hamilton County Assessor’s office is aware of recently proposed and approved legislative changes for business personal property associated with Senate Bill 1.  

One significant change increases the threshold for exemption from personal property tax.  The previous threshold for exemption from filing was for businesses with acquisition costs under $80,000.  The threshold is being changed to under $1,000,000 in acquisition costs.  

This change is supposed to be made retroactive to Jan. 1, 2025 assessment date despite the fact that this change comes in the middle of the filing season. Counties are currently waiting for guidance from the Indiana Department of Local Government Finance on how to proceed.  While the county works out the details of SB1, they ask and encourage that personal property tax filers still file personal property tax returns for this year, even if you believe you are exempt under the new legislation, as we expect some of the same rules to apply as when the 80K limit went into effect.  For questions, call (317) 776-9617.