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Business Tangible Personal Property values for ad valorem tax purposes are based on a self-reporting system in the state of Tennessee. Values are determined by the Tangible Personal Property Schedule or from filing online.

The Tangible Personal Property Schedule is furnished annually on or before February 1, by the Rutherford County Assessor of Property to every business owner operating within the state of Tennessee. Every business owner operating in the state of Tennessee is required to complete, sign and file the Tangible Personal Property Schedule with the Assessor of Property annually on or before March 1, as provided by the T.C.A. 67-5-903. If a taxpayer chooses to do so, they may file online instead of submitting the Tangible Personal Property Schedule to the office.

If a business neglects to complete and return a Tangible Personal Property Schedule to the Rutherford County Assessor of Property or to file online by March 1, the Assessor is required by law to place a value (forced assessment) on that business, using the best information available. Failure to file a completed schedule by paper or to file online, will subject the taxpayer to a penalty.