Personal Property

Personal property taxes are taxes that are levied on temporary or moveable property such as business furnishings, office machines, computers, equipment, telephones, vehicles and other such items, (except real estate,) which is used by a company or a person to operate a business.

The tax is based upon information furnished to the Property Assessor each year by the business. The Assessor furnishes a schedule to each business owner no later than February 1 of each year. Included on this schedule is a detailed list of all tangible personal property owned by the business. The Assessor determines the value of your personal property based on the information supplied.

It is the duty of the taxpayer to fully list tangible personal property, including other information required by the Assessor, to place a correct value on the property, and to sign and return the schedule prior to March 1, of the same year. If the schedule is not returned to the Assessor by the due date a forced assessment is given. Anyone in business on January 1st of any given year is responsible for the entire year's tax, even if they ceased operations prior to December 31st of that same year.

If a business is no longer operating in Bradley County
- Contact the County Clerk's office at (423) 728-7223 to ensure that the business license (for those businesses requiring one) has been canceled.
- Also, contact the County Assessor at (423) 728-7132, as to the disposition of the equipment, so your account can be removed from the next years tax roll.

I received a bill for years prior to the purchase of my business
State law requires a purchaser of a business to check for unpaid personal property taxes of the business. Any taxpayer who sells or terminates a business must notify the assessor and pay all outstanding personal property taxes within fifteen days of the sale or termination. The buyer must withhold sufficient funds from the purchase price to pay the tax liability, retaining those funds until the seller produces a certificate of compliance from the assessor and receipts from the trustee for the payment of all taxes. If the buyer does not withhold this amount, the buyer becomes personally liable for these unpaid taxes. TCA 67-5-513