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Personal Property Personal property of businesses (computers, office furniture, equipment, etc.), whether owned or leased, is taxed on an annual basis.  Assessments are based on seventy percent of the depreciated value. All owners of business personal property must complete and return a personal property declaration to the Assessor no later than November 1st annually. If the declaration is not filed, the Assessor is required by State Statute to complete a declaration for the owner based on the best information available, and add a 25% penalty thereto.  A penalty is also assessed if the declaration is submitted after the November 1st deadline or it is found that assets have been omitted from the personal property declaration.  Forms must be printed and mailed or submitted in person to the Assessor's office with an original signature. The information required on the declaration form includes original cost plus transportation and installation costs filed by the date of acquisition of the property within the appropriate category. If assets used by the business are not owned but are leased, the business owner is also required to declare the lease under the Lessee’s Report.  Leasing Companies are also required to file for this equipment. This information is confidential and not open to public inspection. Extensions: If an extension is needed, the owner or managing member must contact the Assessor in writing by October 15th. The correspondence must state the reason the extension is needed and must demonstrate good cause. The decision to grant an extension is the sole responsibility of the Assessor or their designee. There is no appeal so please be sure to provide the detailed reason for the request. Exemptions: The Manufacturing Machinery and Equipment Exemption Program provides for 100 % exemption of local property taxes on qualified, manufacturing machinery and equipment. The State of Connecticut reimburses municipalities for the exemptions granted under the provisions of the program. Qualified manufacturing and biotechnology companies may receive a tax exemption on their local property taxes. To qualify for exemption, machinery and equipment must be five or seven-year property as defined by the Internal Revenue Service, and used predominantly for manufacturing and research and development purposes. Biotechnology and the production of motion pictures, video and sound recordings and recycling as defined in Connecticut General Statutes 22a- 260, as well as more traditional manufacturing activities, are included in the program. Applicants may apply for the exemption at the local Assessor's Office by November 1 of each year. For more information click here          www.ct.gov/opm/cwp/view.asp?A=2985&Q=383148 What to do if your business has closed: If you have closed your business for any reason you must notify the Assessor’s Office and provide two forms of documentation showing the date that your business closed.  Acceptable documents include any of the following: - Cancellation of your Town of Stratford Trade Name - Dissolution paperwork from the State of Connecticut - Documentation showing the closing of your business checking account What to do if your business has moved: If your business has moved to another jurisdiction you will need to provide documents showing that you registered your business in the new location.   DOWNLOADABLE PERSONAL PROPERTY DECLARATIONS: Personal Property Declaration  Manufacturing Machinery and Equiptment Exemption Claim