Personal Property
The City of Portsmouth assesses personal property employed in a trade, business, or profession. This is everything other than real estate. It includes:
- Equipment
- Fixtures
- Furniture
- Household appliances
- Leased equipment
- Leasehold improvements
- Machinery
- Signs
- Tools
- Any other equipment used in a business or to earn an income
Depreciation
A detailed depreciation schedule, including all fully depreciated items or a list of fixed assets itemizing all property at original installed cost must be submitted each year to the Commissioner.