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Form DS 64SA-61-17 STATE OF COLORADO GENERAL INFORMATION (Declaration Schedules and Attachments Are Confidential And Private Documents By Law.) For these instructions,please refer to the following statutes: §§ 39-3-118.5, 39-3-119.5, 39-5-104.5, 39-5-104.7, 39-5-107, 39-5-108, 39-5-110, 39-5-113 through 117, 39-5-120, and 39-21-113(7), C.R.S. In accordance with § 39-3-119.5, C.R.S.,you are not required to file the personal property portion of this declaration if the total actual value of your personal property per county is $7,400 or less. If you are unsure as to whether the total actual value of your personal property per county exceeds $7,400, please contact the county assessor. WHO FILES A DECLARATION SCHEDULE? The owner(legal titleholder) of taxable personal property,their agent, and those in possession and/or control of the taxable personal property as of January 1 must file a declaration schedule. All personal property, such as a business/organization's: ■ Equipment ■ Security Devices ■ Machinery ■ Household Furnishings and ■ Personal Effects, not otherwise exempt by law,must be listed on this schedule. IS YOUR BUSINESS NEW? ARE YOU A NEW OWNER? If you answer"yes"to either question, or you have never filed with the county assessor and you own taxable personal property, you are required to provide a complete detailed listing of all machinery, equipment, and other personal property. Please include: ■ Item ID Number■ Property Description ■ Model Number ■ Year Acquired and ■ Original Installed Cost to You. PRORATION OF PERSONAL PROPERTY VALUE IS GENERALLY NOT ALLOWED: As of January 1, 1996,the only proration of personal property value allowed is for Works of Art loaned to and used for charitable purposes by an exempt organization. If other taxable personal property was located in Colorado on the assessment date, it is taxable for the entire assessment year,providing that, if it was newly acquired, it was put into use as of the assessment date(January 1). If it was not located in the state on the assessment date, or if it was newly acquired,but was not put into use as of the assessment date, it cannot be taxed until the next assessment year. Except for works of art,personal property that is exempt on the assessment date retains its exempt status for the entire assessment year. These requirements do not affect the proration of real property. WHEN DO YOU FILE? This form must be received by the county assessor by the April 15 deadline EVERY YEAR. HOW DO YOU FILE FOR AN EXTENSION? You may extend the deadline if,by April 15,the assessor receives your written request AND $20 for a 10-day extension, or$40 for a 20-day extension. This extension applies to only personal property schedules(single or multiple)that a person is required to file in the county. WHAT HAPPENS IF YOU FAIL TO FILE? The late filing penalty is $50 or 15% of the taxes due,whichever is less. If you fail to file a schedule,the assessor shall determine a valuation based upon the BEST INFORMATION AVAILABLE and shall add a penalty of up to 25% of assessed value for any omitted property discovered and valued later. NOTE: Failure to properly file a declaration schedule may prevent you from receiving an abatement per Colorado case law. Property Tax Adm'r v.Production Geophysical, 860 P.2d 514(Colo. 1993) WHY IS THE DECLARATION FORM IMPORTANT? Assessors use this information to help calculate the property's actual value. This value is based on the property's use and condition as of January 1 of each assessment year. WHAT HAPPENS AFTER YOU SUBMIT THIS FORM? • The assessor may request more information or conduct a physical inventory of your personal property at your business location. • Notices of Valuation are mailed on June 15 to the address listed on this schedule.