All businesses located in the City of Lexington are required to file a Return of Tangible Personal Property, Machinery, and Tools form for equipment utilized in the business as of January 1 of the current year. This form must be filed with the commissioner of the revenue on or before March 15 each year.
"Equipment" is assessed in the following manner:
The rate is $4.25 per $100 of assessed value. The business personal property bill will be mailed the first week of May. The first half payment is due June 5, and the second half payment is due December 5.