The dealer’s inventory value is based on the total sales and leases/rentals for the preceding tax year. Those will be reported on the Dealer’s Heavy Equipment Inventory Declaration. The form provides that the dealer who was not in business for the entire 12 month period reports the months in business. For each month, the Dealer’s Heavy Equipment Inventory Tax Statement will list each sale, lease or rental during that month. For these sales, leases and rentals, the dealer will report the unit property tax for that heavy equipment.