Springfield business owners, including some city council members, are disclosing taxable property to maintain their business licenses under a new ordinance. The ordinance, passed in June 2025, requires businesses to submit an assessment list to the Greene County Assessor’s Office for business personal property.

Understanding Business Personal Property

Business personal property includes a wide range of assets, such as computers, chairs, and equipment used in a trade or business. State law defines business personal property as ‘tangible personal property used in a trade or business or used for production of income and which has a determinable life of longer than one year.’ This can include assets like restaurant furniture, kitchen equipment, and security systems.

The Greene County Assessor’s Office has been focused on education over enforcement in the first year of the ordinance, issuing waivers to small businesses who were unaware of the requirement. Many big businesses in Springfield were already compliant with the rules regarding business personal property taxes because their books are handled by accounting firms familiar with government regulations.

Impact on Local Businesses

Although it is still too early to quantify the fiscal impact of the ordinance, Greene County’s personal property accounts have nearly doubled since the end of October 2025. The ordinance applies to both new and existing businesses that are required to maintain a city business license. Businesses must renew their license by the end of each calendar year and provide proof of payment of personal property taxes.

Original reporting: Springfield Daily Citizen — read the source article.