Business Tangible Personal Property Tax

The City of Portsmouth levies on personal property employed in a trade, business, or profession. This is everything other than real estate. It includes furniture, fixtures, tools, machinery, household appliances, signs, equipment, leasehold improvements, leased equipment and any other equipment used in a business or to earn an income.

A detailed depreciation schedule, including all fully depreciated items or a list of fixed assets itemizing all property must be at original installed cost must be submitted each year to the Commissioner.