Personal
Property Taxes
Personal Property Tax 101
The Carbon County Assessor is responsible for the equitable and fair assessment of all taxable properties in Utah County. Personal Property is valued based on schedules developed by the Utah State Tax Commission. All non-exempt tangible personal property is valued and assessed annually by the Personal Property Specialist of the Assessor's Office.
Utah Code in Title 59 requires the taxation of property for the funding of local government and Utah schools. Property tax is assessed on both real property and personal property. Generally, personal property used in business is subject to property taxes. Utah law requires business personal property to be reported to the county assessor where the property is located (has situs) on a tax form identified as a Personal Property Signed Statement. Registered motor vehicles and recreational vehicles are subject to Uniform Fees.
Personal Property is taxed based on its taxable value as of January 1st of each year. In order to value personal property, the Utah State Tax Commission provides a number of personal property classification categories, which are used by all county assessors in Utah.
OFFICE LOCATION
751 E 100 N Suite 1200
Price, UT 84501
Assessor
Amy Schmidt-Peters
Term 2025-2028
DEPARTMENT(S)
Signed Statements and Payments are due Friday, May 15th! File early to avoid interest.
SOCIAL MEDIA
Pay Personal Property Tax
Business Asset Personal Property Tax
Determining Business Personal Property Class:
Personal Property is valued using a classification system referred to as “Recommended Personal Property Valuation Schedules”. These schedules identify various types of personal property and provide a “percent good” of acquisition cost for commercial personal property. To determine property type or “class” refers to the Classification Guide. To determine personal property values refer to the Recommended Personal Property Valuation Schedules for each class of property. These valuation schedules provide a factor to be applied to acquisition cost (refer to the Definition of Acquisition Cost) and acquisition year to determine taxable value. Once taxable value is determined, the local taxing area rate is applied to calculate the tax.
Business Personal Property Taxes
Utah law requires business personal property to be reported to the county assessor where the property is located (has situs) on a tax form identified as a Personal Property Signed Statement.
Schedule A
This is the affidavit form, and it is the actual form that lists your reported personal property. We mail this form to you each year before March 15. Please contact the Assessor's office for a computer-generated affidavit form if you have not received one.
Schedule B & C
Schedule B is for you to list any newly acquired Personal Property for the year prior and any that you have disposed of during that year.
Schedule C is the form where you must list any leased or rented equipment.
Percent Good Table
The percent good tables are established by the Utah State Tax Commission each year and give a Personal Property Percent Good Valuation Schedules by Class. The percentage applied to the original cost or cost new to compute fair market value. It is derived from IRS economic life estimates and the Marshal and Swift National Costing Service.