Personal Property Tax is a tax on the equipment one uses in the operation of a business. Anyone in business on January 1 of any given year is responsible for the entire year’s tax, even if they closed their business prior to December 31 of that same year. It is the taxpayer’s responsibility to advise the Wilson County Tax Assessor that their business has been closed in order to preclude assessment.
The Property Assessor's office mails a Tangible Personal Property form to be completed by the property owner and the tax is based on the information derived from that form. Personal Property Taxes paid before the delinquent date (February 28) and within the business tax reporting period may be deducted, subject to limitations, from the Municipal Business Tax due that is filed with the state of Tennessee annually. A portion, perhaps all, of the amount paid to the City of Mt. Juliet for personal property taxes may be deducted on the City of Mt. Juliet business tax report and a portion of the amount paid to the Trustee's Office may be deducted from the Wilson County Clerk's business tax report only. Both these returns are filed at the state level not the local level.