MARCH 1ST DEADLINE TO REPORT PERSONAL PROPERTY FOR FY 2017
BUSINESSES AND 2ND HOMES
The Shutesbury Board of Assessors recently sent notices to all businesses and owners of second homes that a personal property “Form of List” should be completed and returned to the assessors by March 1st 2016. Property owned on January 1st is taxable for the fiscal year 2017 starting July 1st 2016.
Business Form of List (State Tax Form 2)
Incorporated and non-incorporated businesses must report all equipment and machinery. In addition, non-incorporated businesses must report inventory such as office furniture, filing cabinets, chairs, adding machines, computers, printers, motorized tools, etc. Farm animals, unregistered motor vehicles and unregistered construction equipment must also be reported. If you depreciate the furnishings on your federal tax return, you or your accountant may already have an itemized list and you could attach that to the Form of List rather than filling out the tables on the form.
Household Form of List (State Tax Form 2HF)
Owners of second homes, duplexes, etc. must report all furnishings and appliances including refrigerators, stoves, dishwashers, washers and driers, TV’s, lawnmowers, dishes, eating & cooking utensils, furniture, etc. If you purchased your property furnished, and you were provided with a value for the contents of the home at the time of purchase you may submit that information (copy of purchase and sale agreement, appraisal, etc.) by attaching it to the form of list. If your property is insured, the insurance company should be able to provide you with a list of the contents and their insured value OR a lump sum value for all of the contents. You may attach a letter from your insurance company or a copy of your insurance coverage page to the Form of List rather than filling out the tables on the form.
EXEMPTIONS
Exemptions exist for veterans with service related disabilities and their wives, widows, and for elderly residents of Shutesbury. The criteria for elderly are listed below. Gross income is subject to a social security exemption allowance (i. e. we do not include this amount) of $4,523 for the retired worker if single and an additional $2,262 for his or her spouse. Total household income must be verifiable by tax returns and/or earnings statements. Assets include all bank accounts, IRA’s. stocks, investments, personal property, and real estate excluding primary residence.
|
Exemption |
Amount |
Minimum Age |
Maximum income |
Maximum Assets |
|
17-D (S&M) |
$175.00 |
70 |
No maximum |
$40,000 |
|
41-C (S) |
$1000 |
65 |
$20,000 |
$40,000 |
|
41-C (M) |
$1000 |
65 |
$30,000 |
$55,000 |
CPA EXEMPTION INFORMATION
The Community Preservation Act (CPA) is a surcharge which is added to the property tax to support local conservation and/or development projects. Depending on the owners household income, they may be eligible for an exemption from the tax. The following tables show the allowable net household income to qualify for the CPA exemption. These tables are based on an area wide median income of $74,300 from HUD*.
net household income limits under age 60
|
Household size |
Age <600 |
|||
|
1 |
|
$ 41,608.00 |
|
|
|
2 |
|
$ 47,552.00 |
|
|
|
3 |
|
$ 53,496.00 |
|
|
|
4 |
|
$ 59,440.00 |
|
|
|
5 |
|
$ 64,195.20 |
|
|
|
6 |
|
$ 68,950.40 |
|
|
|
7 |
|
$ 73,705.60 |
|
|
|
8 |
|
$ 78,460.80 |
|
|
net household income limits over age 60
|
Household size |
Age 60 and over |
|
|
1 |
|
$ 52,010.00 |
|
2 |
|
$ 59,440.00 |
|
3 |
|
$ 66,870.00 |
|
4 |
|
$ 74,300.00 |
|
5 |
|
$ 80,244.00 |
|
6 |
|
$ 86,188.00 |
|
7 |
|
$ 92,132.00 |
|
8 |
|
$ 98,076.00 |
Applications for the CPA exemption must be accompanied with copies of the federal income tax return for 2014 and received by assessors no later than March 30.
All exemption and abatement forms are available through links on our website www.shutesbury.org/assessor.
*www.huduser.org
MOTOR VEHICLE EXCISE TAX
This is about the time of year for excise taxes for calendar 2016 to be mailed to owners of vehicles.
In order to receive an abatement the owner must document two things.
1. Return of the license plate
2. transfer ownership of the vehicle.
If you have sold or traded a vehicle recently and received a tax bill for that vehicle you can apply for an abatement for a portion of the year. We will issue a pro-rated abatement upon receipt of all materials required by law.
Application forms are available online for download at www.shutesbury.org/assessors You may leave the form and documents in the Assessor’s mailbox in the Town Hall or mail it to the above address. We will process your abatement promptly upon receipt of the above materials.
Office telephone (413) 259-3790
Email assessor@shutesbury.org
Hours: M & T 10-3; W 1-3; Th 12-4
Kenneth Holmberg Admin. Assessor
Leslie Bracebridge Assessors Clerk
BOARD OF ASSESSORS:
Stephen Schmidt Assessor (Chairman)
Susan Reyes Assessor
Diane Jacoby Assessor (JAN. 2016)