Personal Property Tax has been repealed by the State of Wisconsin effective January 1, 2024.

A Statement of Personal Property will not need to be filed for 2024.

2023 will be the final year a Personal Property tax bill will be received.

Information

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 that 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.

Instructions

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

Schedule D, D2

Schedule D List all furniture, fixtures and equipment such as office, store and professional furniture, fixtures and equipment, business and professional libraries and other assets related to the operation of the business. Taxable items include desks, chairs, tables, cabinets, coolers, utensils, instruments, safes and scales.

Schedule D2 List all multifunction fax machines, copiers, telephone systems, X-ray imaging machines, photo processors, cameras, satellite dishes and other taxable computerized equipment owned by the business. For detailed information see the Department of Revenue computer exemption guidelines.

How to properly complete these schedules:

In Column 2, enter the total cost of the new and used items you purchased/acquired on the line corresponding to the year the items were obtained.
Column 3 is used to account for any additions, deletions, or transfers of assets. If you dispose of or transfer an item, use column 3 to deduct the original cost of that item on the line from the year it was acquired. If you transfer an item from a different location to the current location, report this in column 3 as an addition at its cost on the line for the year it was originally purchased/acquired.
Column 4 is used to reflect the net original cost reflecting any additions or disposals. If there were no additions or disposals during a given year, Column 2 and Column 4 will be the same.
Multiply Column 5 by Column 4 and enter this amount in Column 6. This is the assessable amount.
Enter the Total of the entries in column 6 for each Schedule on the last line of column 6.

Schedule E

Schedule F

Schedule G

Schedule H

Additional Guidance

Property Discontinued, Sold or Moved Prior to January 1

If your business was discontinued, sold, or moved from Oak Creek, 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 1. 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 Oak Creek tax bill for the full year. If you did not have personal property in the City of Oak Creek 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.

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 1. | Download Application

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 (Milwaukee Office: 819 N 6th St, Room 530, Milwaukee, WI 53203-1610 | Phone: (414) 227-4456) to submit the appropriate application 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.

Contact

If you have any questions, please do not hesitate to contact the City of Oak Creek Assessor’s office at (414) 766-7069.