CITY OF WAUWATOSA ASSESSOR’S OFFICE, 7725 W NORTH AVE, WAUWATOSA, WI 53213
2012 Forms available in PDF or MS Excel Format: http://www.wauwatosa.net/index.aspx?NID=78
Preparer must complete each individual schedule (as applicable); blank or incomplete forms (those with an attached asset list instructing us to “See Attached”) will be returned to preparer for completion.
Personal property subject to assessment includes all furniture, fixtures, & equipment which is not specifically exempt per statute or for which a property tax exemption has not been applied for and granted.
Wisconsin statue 70.35 provides that every person, firm, or corporation receiving a return of personal property is required to submit the return of such personal property and of the taxable value thereof.
If you fail to file by March 1st, the Assessor must estimate the value of your property using the best information available.
Sec. 70.35(4) provides that any person, firm or corporation, who fails, neglects, or refuses to file a return, shall be denied any right of abatement by the Board of Review.
Sec. 70.36(1) specifies that any person, firm or corporation having personal property subject to assessment that makes a false statement or omits property from the return with the intent to evade payment of taxes on such property, shall forfeit the sum of $10 for each $100 or major fraction withheld from the knowledge of the assessor or Board of Review.
The personal property statement is a confidential document; therefore it is not available for public inspection. The Assessment Roll, however, is a public record.
SCHEDULE: B, C, D, D-1, D-2, F & F-1
- Enter the costs of new and used assets by the year of acquisition on the appropriate line of Column 2.
- Column 3 provides for any additions, deletions, or transfers in assets. If any fixtures have been transferred from another area to the City of Wauwatosa, they should be reported under original acquisition year.
- Column 4 summarizes the original costs of assets by year of acquisition after reflecting any additions or deletions.
Schedule E should include only buildings on leased land.
Schedule F should include all leased assets. This would include machinery, furniture, multifunction faxes, copiers, computer equipment, software, cash registers, and single function fax machines. Use column 6 for taxable leased items and column 7 for exempt computer values.
(Please Note: If your fax machine can make a copy it is NOT EXEMPT.)
General office supplies include items which are not subject to resale by the taxpayer but which are necessary to conduct business.
Please be specific when listing leasehold improvements. Be sure to include the year, description of improvement and the original cost.
PROPERTY DISCONTINUED, SOLD OR MOVED PRIOR TO JANUARY 1
If your business was discontinued, sold, or moved from Wauwatosa, prior to January 1st, you must indicate the change on the Statement of Personal Property and submit to the Assessor’s Office on or before March 1st. If you fail to notify the Assessor’s Office you may receive a Doomage Assessment.
PROPERTY SOLD OR MOVED AFTER JANUARY 1
No change of location or sale of any personal property after January 1st affects the assessment for that year (Sec. 70.13(6)).
There is no partial year pro-ration: You will still receive a City of Wauwatosa tax bill for the full year. If you did not have personal property in the City of Wauwatosa on January 1 fill out the portion of the Statement of Personal Property and check the appropriate box (Sold, Discontinued, Moved, or Incorporated) and fill in the Date the change occurred.
EXEMPT COMPUTER EQUIPMENT & SOFTWARE (SCHEDULE D-1)
TO RECEIVE THE EXEMPTION FOR COMPUTER OR COMPUTER RELATED EQUIPMENT, THE PERSONAL PROPERTY FORMS MUST BE RETURNED BY MARCH 1, 2012.
NON-PROFIT ORGANIZATIONS (NOT AUTOMATICALLY EXEMPT)
If you are a not for profit organization – under Section 70 of the Wisconsin Statutes - you may be eligible for a property tax exemption on owned personal property. You must file an application for exemption with our office prior to March 1st. An application for exemption can be found on http://www.wauwatosa.net/index.aspx?NID=78
MANUFACTURERS (NOT AUTOMATICALLY EXEMPT)
If you believe that your business is manufacturing, you may have equipment that is eligible for exemption. Contact the Wisconsin Department of Revenue’s Office of Manufacturing Assessments (819 N 6th St, Room 530, Milwaukee, WI 53203-1610 Phone # (414) 227-4456) to submit the appropriate application to on or before March 1st. If your business meets the statutory definition of a manufacturer and you receive the classification, you will be required to file a return directly with the Wisconsin Department of Revenue.
If you have any questions, please do not hesitate to contact the Wauwatosa Assessor’s office.