Business Personal Property

The following are examples of business personal property:
  • Computers
  • Copy machines
  • Desks and chairs
  • Fax machines
  • High loaders
  • Industrial equipment
  • Manufacturing equipment
  • Materials and supplies
  • Minerals
  • Plant machinery
  • Postage meters
  • Refrigeration units
  • Satellite equipment
  • Shelving and racks
  • Storage tanks
  • Telephone systems
  • Tools / dies / molds

The items above are taxable unless they fall under either of these Kansas statutes:
  • KSA 79-201w, Article 2: "Property Exempt from Taxation; machinery, equipment, materials, and supplies with a retail cost when new of $1500 or less per item for tax year 2007, and all tax years thereafter."
  • KSA 79-223: "Machinery and equipment acquired by qualified purchase or lease made or entered into after June 30, 2006, as the result of a bona-fide transaction not consummated for the purpose of avoiding taxation is exempt from property taxation in Kansas. Machinery and equipment transported into the state after June 30, 2006, for the expansion of an existing business or the creation of a new business is also exempt from property taxation in Kansas."

Commercial Value
The valuation of owned or leased commercial personal property is based on the cost of assets. Assets are valued according to their cost when new, or their used acquisition cost, and the appropriate economic life. The asset is then depreciated over its economic life to a remaining salvage value.

Economic lives that are assigned to commercial assets come from guidelines issued by the State of KansasInternal Revenue Service (IRS) publications, and the Marshall & Swift Valuation Services.

For More Information
For more information about business personal property, please contact the appraiser's office at (785) 628-9400.