Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address.What is business personal property? You are advised to make a copy of the completed statement for your records. This form must be filed in the city or township where the personal. Enter the current fair market value of all other assets owned, but not included in the previous sections. Tangible personal property tax exemptions for small businesses is a highly economical way of reducing taxpayer compliance burdens. A single personal property assessment is made for all taxable personal property of the owner located in the city or town. 2. The Declaration must be filed annually no later than November 1st (or the Monday following if November 1 falls on Saturday or Sunday) (CGS §12-42). Tangible Personal Property: Every class of property that is not real estate or improvement.