The Business Personal Property Tax Return (PT-50P) is the form the Chatham County Board of Assessors uses to list the personal property a business owned on January 1, and it is one of the Chatham County property tax forms. The business reports furniture, fixtures, machinery, equipment, inventory and other personal property, supported by Schedules A, B and C, and the return is due April 1. On this page you can fill out the form online on FillingPDF and download or print the completed PDF; the Board of Assessors publishes the form and receives the return at the address printed on it.
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What is PT-50P?
The Business Personal Property Tax Return (PT-50P) is the Chatham County Board of Assessors form on which a business lists its personal property as of January 1 and declares its value for property tax, supported by Schedules A, B and C.
Page 1 sorts the property into four strata: F (furniture, fixtures, machinery and equipment, including computer hardware, production machinery, tools, leasehold improvements personal property in nature and construction in progress personal property in nature), I (inventory), P (freeport inventory) and Z (other personal property). For each stratum you enter the taxpayer returned value and the indicated value from Schedules A, B and C. If you think the indicated values do not reflect fair market value, you declare your own estimate and attach your reasons.
Page 2 holds the General Information section and the reference notes on the Georgia code sections behind the return (O.C.G.A. §§ 48-5-299 and 48-5-300). The return itself is public information. Schedules A, B and C, and the documents you furnish with them, are confidential and not open to public inspection under O.C.G.A. § 48-5-314.
The Board of Assessors describes PT-50P as the return for the personal property of a business. Boats and motors use a separate form, PT-50M, and aircraft use PT-50A. Real property is returned on a different form, PT50R.
Who needs to file PT-50P?
Businesses that owned personal property on January 1 file the PT-50P with the Chatham County Board of Assessors. That covers furniture, fixtures, machinery, equipment, inventory, freeport inventory and other personal property. The General Information section asks you to mark the business as commercial, industrial or agricultural, and whether it files its Georgia income tax as a corporation, an individual or a partnership.
Points that decide what belongs on the return:
- A taxpayer or an agent may sign the declaration. The form must be signed and dated to be a valid return.
- Equipment, goods and tools that you hold but do not own (consigned, leased, rented or stored for someone else) are listed in the sections of Schedule C, so that the tax is charged to the legal owner.
- Leasehold improvements such as walls, doors, floor covering, electrical, plumbing, heating, air distribution, ceilings and lighting that form an integral part of the building are not reported as personal property.
- Licensed motor vehicles are left out of the inventory and leased-equipment listings.
- A business that owns a boat and motor or an aircraft requests the separate form (PT-50M or PT-50A) instead of reporting them here.
- A business that has closed or sold gives the new owner's name and address on line 17.
When to file PT-50P
The return is due April 1st, the due date printed on page 1 and on Schedule A, and it reports the property you owned on January 1. To avoid a 10% penalty on items not previously returned, file no later than that date.
The form's reference notes add a mailing caution: most counties do not accept metered mail dates as filing dates unless the post office counter-stamps them, so make sure the deposit date and the postmark date are the same when you mail close to the deadline.
If you claim the Freeport Exemption, the application must be completed and filed with the return and schedules before the filing deadline. The form does not print a processing time. It warns that failing to file a completed copy may lead to an audit of your records or to an assessment on your property from the best information obtainable (O.C.G.A. § 48-5-299 (a)).
Documents you need
- Asset listing showing the date of acquisition, original cost and description of each asset: submitted with Schedule A for verification. It is not open to public inspection.
- Most current IRS Form 4562 depreciation schedule and supplemental schedules: submit these with Schedule A only if no asset listing is available.
- Photocopy of your most current balance sheet (Form 1120, Schedule A & L, or Form 1065, Schedule A & L): requested with Schedule B if you file a corporate or partnership income tax return.
- Photocopy of your most current Form 1040, Schedule C, pages 1 and 2: requested with Schedule B if you filed an individual or sole proprietorship income tax return.
- Attachment listing your reasons: required if you enter a taxpayer returned value that differs from the indicated value from Schedules A, B and C.
- Explanation for the decrease: submitted with Schedule B if your inventory is less than the previous year.
- Breakdown of how you arrived at your January 1 inventory: attach it if your fiscal year ends at a point other than January 1.
- Freeport Exemption application: file it with the return and schedules before the deadline if you claim the exemption.
- Supplemental sheets: attach them when a schedule section has too little space for all the items.
How to fill out PT-50P
Check the taxpayer details on page 1
Confirm the tax year, account number, map and parcel I.D. number, NAICS number and business physical location. If the mailing name or address is wrong, correct it in the NAME, ADDRESS and CITY, STATE, ZIP spaces provided.
Complete General Information lines 1 to 10
Check the business type (line 1) and the Georgia income tax type filed (line 2), then enter the fiscal year ending date, federal employer identification number, S.T.I. and sales tax numbers, owner or president, doing-business-as name, name on the business license, city if inside city limits, and preparer details (lines 3 to 10).
Complete lines 11 to 16
Enter the contact person, the location of supporting records, the business, home office, toll free and fax numbers and email (line 13), the main product or activity, the NAICS number and the building and retail square footage.
Answer lines 17 to 20
Give the new owner's name and address if you closed or sold the business (line 17), the date the business began in the county and whether you filed last year (line 18), and whether you have assets in other Georgia counties (line 19). Mark Yes or No for a boat and motor or aircraft (line 20); if Yes, request PT-50M or PT-50A.
List equipment on Schedule A
Answer whether you owned machinery, equipment, furniture or fixtures on January 1. List each acquisition year by economic life group (Groups 1 to 4), with previously reported original cost, additions, disposals, adjusted cost, the conversion factor and the indicated value.
Total Schedule A and carry it to Line F
Add the group totals into TOTAL ALL GROUPS. Enter the total indicated value on page 1, Line F, in the Indicated Value from Schedules column.
Report inventory on Schedule B
Answer the inventory question and enter the accounting method, cost method, fiscal year ending date and previous-year gross sales. List the merchandise, raw materials, goods in process and the other categories at 100% cost, then total them on line 13.
Carry inventory to Lines I and P
Enter the total inventory on page 1, Line I. If you have a Freeport account, enter the exempt amount on Line P and the taxable amount on Line I.
Complete Schedule C if it applies
Answer whether you had unallocated construction in progress costs on January 1. If you have connected personal property not reported elsewhere, list each item with year acquired, useful life and cost, and add the indicated value to page 1, Line F.
Complete the four sections on page 4
Section 1 lists consigned or floor planned goods you hold but do not own. Section 2 lists leased or rented equipment with the owner's name and address. Section 3 lists additions or transfers in, and Section 4 lists disposals with date, reason and purchaser.
Fill in the values and totals on page 1
For lines F, I, P and Z, enter the Taxpayer Returned Value as of Jan. 1 and the Indicated Value from Schedules A, B and C, then enter the totals. Attach your reasons if your returned value differs from the indicated value.
Sign, review and download the PDF
Print your name, title, date and phone number, and sign the Taxpayer's Declaration as the taxpayer or agent. Check every line, then download or print the completed PDF from FillingPDF and assemble the package described under How to submit.
How to submit PT-50P
The PT-50P goes to the Chatham County Board of Assessors by mail; the form prints one return address and names no other channel.
- By mail: Chatham County Board of Assessors, P.O. Box 9786, Savannah, GA 31412-9786. Send the signed page 1, the General Information page, completed Schedules A, B and C, and the attachments listed under required documents.
- Mailing date: The form's notes say most counties do not accept metered mail dates unless counter-stamped by the post office. If you mail near April 1, make the deposit date and the postmark date the same.
- Questions: Call (912) 447-4823, the assistance number printed on the form.
Applications for exemptions, such as the Freeport Exemption application, go in with the return and schedules before the deadline. The Board of Assessors lists its personal property forms at https://boa.chathamcountyga.gov/Forms. FillingPDF lets you fill out and download the PDF; submission follows the channels above.
Common mistakes to avoid
- Filing after April 1, which exposes items not previously returned to the 10% penalty printed on the form.
- Leaving the Taxpayer's Declaration unsigned or undated; the instructions say it must be signed by the taxpayer or agent and dated for the return to be valid.
- Mailing close to the deadline with a metered date that differs from the postmark; many counties do not accept metered dates unless counter-stamped.
- Using ACRS or MACRS to choose an economic life group on Schedule A; the instructions require the IRS Publication 946 class life instead.
- Reporting inventory on a LIFO basis or deducting expected mark-down or shrinkage; Schedule B asks for 100% cost taken directly from your books.
- Listing building-integral leasehold improvements, such as walls, doors, plumbing or lighting, as personal property on Schedule A.
- Leaving out equipment or goods you hold but do not own; Schedule C sections 1 and 2 ask for the legal owner so the tax is charged to that owner.
- Reporting boats, motors or aircraft on this return instead of requesting the separate PT-50M or PT-50A form.
- Entering your own value in the Taxpayer Returned Value column without attaching the reasons for the change.
- Filing a Freeport Exemption application after the return deadline instead of with the return and schedules.
Frequently asked questions
What is Form PT-50P in Chatham County?
PT-50P is the Business Personal Property Tax Return of the Chatham County Board of Assessors. A business uses it to list its furniture, fixtures, machinery, equipment, inventory and other personal property as of January 1 and to declare their value, with Schedules A, B and C as support.
When is the PT-50P due?
The due date printed on the form is April 1st. To avoid a 10% penalty on items not previously returned, file no later than that date. If you mail close to the deadline, make the deposit date and the postmark date the same, because metered dates are often not accepted.
Where do I mail the business personal property return?
Mail it to Chatham County Board of Assessors, P.O. Box 9786, Savannah, GA 31412-9786. The form prints this as the return address and names no other channel. For help with the form, call (912) 447-4823, the assistance number printed on it.
Can I fill out the PT-50P online?
Yes. You can fill out the PDF online on FillingPDF and download or print it. FillingPDF is an independent service and does not file the return for you; you submit it to the Board of Assessors at the mailing address on the form.
Is my PT-50P return public record?
The return itself is public information and open for public inspection, including the General Information section. Schedules A, B and C and the documents you furnish, such as asset listings and income tax copies, are confidential under O.C.G.A. § 48-5-314.
What do I attach to the PT-50P?
Submit an asset listing with Schedule A, or your most current IRS Form 4562 if you have no listing. The form also requests a balance sheet or a Form 1040 Schedule C copy for inventory verification. Add an explanation if inventory fell and reasons if your value differs.
Do I report boats or aircraft on the PT-50P?
No. The form says boats, motors and aircraft are reported on a separate form provided on request. Line 20 directs you to the marine form PT-50M or the aircraft form PT 50A if the business owns a boat and motor or an aircraft.
What do I do if I closed or sold my business?
Write the new owner's name and address on line 17 of the General Information section. Line 18 also asks for the date the business began in the county and whether you filed a return last year.
How do I claim the Freeport Exemption with the PT-50P?
Complete the Freeport Exemption application and file it with the business personal property return and schedules before the filing deadline. The Board of Assessors lists it as Application for Freeport Exemption Inventory (PT-50PF) and says some levels are not available in Chatham County.
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