Notices will be mailed on May 17, 2024. If you disagree with the value shown on your Assessment Notice, you may schedule an appeal with the independent Metropolitan Board of Equalization (MBOE) beginning May 20, 2024 between the hours 8 am and 4 pm by calling us at 615-862-6073. The deadline to schedule your appointment with the MBOE is June 14, 2024 at 4 pm.
Tangible Personal Property Groups
GROUP 1 – FURNITURE, FIXTURES, GENERAL EQUIPMENT, AND ALL OTHER PROPERTY NOT LISTED IN ANOTHER GROUP
Includes all personal property not specifically identified in one of the other groups. For many businesses, all or most of the personal property will fall into this category. A partial list of the types of equipment to be reported in this group includes:
- Answering machines, mining and quarrying equipment
- Amusement devices (coin-operated), mortuary equipment
- Amusement park rides & equipment, office machines, furniture, fixtures, and equipment
- Auto and truck washes, paging system (including purchased pagers)
- Auto repair equipment (except tools: see Group 2), photographic equipment
- Barber and beauty shop equipment, recreational equipment (bowling lanes, billiard tables, etc.)
- Broadcasting equipment (except towers: see Group 4), repair and maintenance equipment
- Bulldozers, restaurant fixtures and equipment
- Cable television equipment, retail fixtures and equipment
- Cash register (except computer mainframe: see Group 2), signs (not Billboards: see Group 6)
- Dictation (transcribing) equipment, sound reinforcement and recording equipment
- Earth moving equipment, telephones
- Grocery fixtures and equipment, theater fixtures and equipment
- Hotel/motel/apartment furniture – fixtures – and equipment, trailers (office, over-the-road, equipment and hauling)
- Laundry and dry cleaning equipment, vending machines
- Law libraries, warehousing equipment
- Medical equipment and libraries
GROUP 2 – COMPUTERS, COPIERS, PERIPHERALS, FAX MACHINES AND TOOLS
Includes all computers, disk drives, tape drives, terminals, printers, operational software, cable, modems, etc.; Copiers, facsimile machines, portable hand and power tools.
GROUP 3 – MOLDS. DIES. AND JIGS
Includes all molds, dies, and jigs.
GROUP 4 – AIRCRAFT, TOWERS, AND BOATS
Includes all aircraft; radio and TV broadcast towers unless classified as real; watercraft. Includes all aircraft, boats, radio and TV broadcast towers reported last year as personal property. All new towers, except those excluded in T.C.A. § 7-59-102, should be classified as real property.
GROUP 5 – MANUFACTURING MACHINERY
Includes all machinery used in manufacturing processes.
GROUP 6 – BILLBOARDS, TANKS, AND PIPELINES
Includes all billboards, above ground tanks and pipelines unless classified as real. Billboards are free standing and commonly have a utility attached such as electricity. A sign attached to a building or which is easily movable should be listed in Group I (Underground tanks are classified as real property, do not report on this schedule)
GROUP 7 – SCRAP PROPERTY
Includes all property no longer capable of use and for which there is no expectation of repair, but which is still owned by the business or located at the business site.
GROUP 8 – RAW MATERIALS AND SUPPLIES
Raw Materials are defined as items of tangible personal property, crude or processed, which are held or maintained by a manufacturer for use through refining, combining or any other process in the production or fabrication of another item or product. Do not report goods in process.
Supplies are defined as expendable items of tangible personal property which are used or held for use in support of a business activity, including, but not limited to, office supply stocks, stocks of spare parts for maintenance of machinery and equipment, accessories used in manufacturing processes, printing supplies, and cleaning and maintenance supplies.
Report the original cost of all raw materials and supplies on hand as of January 1, as determined by the ‘first-in-first-out” (FIFO) method of accounting.
GROUP 9 – VEHICLES
Includes all automobiles, buses, tractors, trucks and other vehicles designed for over-the-road use. If a vehicle carries commercial tags it should be listed. If it is registered to a business or an individual operating as a business, whether or not the vehicle carries commercial tags, the vehicle should be listed. (Truck trailers are listed in Group 1).
GROUP 10 – CONSTRUCTION IN PROGRESS (CIP)
Personal Property that you treat as CIP for federal income tax purposes (as of January 1) may be reported in this group. Report only those costs included in your federal income tax return as CIP.