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.