The assessment date for personal property is January 1 of each year; any business that existed on January 1st is subject to personal property tax and will be billed for the entire fiscal year. This applies to businesses that have closed or relocated after the assessment date. Personal property tax is not prorated per Massachusetts General Law.
What is personal property?
For tax purposes, personal property comprises assets, goods and material objects used in the conduct of a business and is assessed separately from real estate.

Quick Access - Forms and Requests
Other Documents
Quick Access - Forms and Requests
Closed Business Form
Personal Property Tax Abatement Application
State Tax Form 2 Form of List
State Tax Form 2MT
Quick Access - Forms and Requests
Closed Business Form
Personal Property Tax Abatement Application
State Tax Form 2 Form of List
State Tax Form 2MT
Filing Personal Property Tax Returns
WHO MUST FILE A RETURN?
All proprietors, partnerships, associations, trusts, and corporations must file a Form of List declaring items as personal property as of January 1 each calendar year. This is a state requirement.
WHERE AND WHEN MUST MY RETURN BE FILED?
The Form of List must be filed with the local Board of Assessors each year before March 1 to determine the fair market value of the property listed. If the property has no permanent location (e.g. construction equipment), it must be listed with the assessors in the city or town where the business is domiciled (legal place of residence).
CAN I GET AN EXTENSION ON THE FILING DEADLINE?
Requests for an extension may be granted if you can show sufficient reason for not filing on time. The latest date the filing deadline can be extended is 30 days after the tax bills are mailed for the fiscal year. Request for extensions must be in writing.
PENALTY FOR FAILURE TO FILE OR FOR FILING LATE
Pursuant to Massachusetts General Law c. 59, sec 64.:
• If no Form of List was filed for the fiscal year, the assessor cannot grant abatement for overvaluation of personal property for the year. A Form of List is not considered filed unless it is complete.
• If the Form of List is not filed on time, the assessor can only grant abatement if the taxpayer shows a reasonable excuse for late filing or if the tax assessed is more than 150% of the amount that would have been assessed if the Form of List was filed on time. In this case, only the amount over the 150% of the correct value can be abated.
Pursuant to Massachusetts General Law c. 59, sec 64.:
• If no Form of List was filed for the fiscal year, the assessor cannot grant abatement for overvaluation of personal property for the year. A Form of List is not considered filed unless it is complete.
• If the Form of List is not filed on time, the assessor can only grant abatement if the taxpayer shows a reasonable excuse for late filing or if the tax assessed is more than 150% of the amount that would have been assessed if the Form of List was filed on time. In this case, only the amount over the 150% of the correct value can be abated.