Business Tangible Property Tax
The business tangible personal property tax is levied on all general office furniture and equipment, machinery and tools, equipment used for research and development, heavy construction equipment, and computer equipment and peripherals located in the County on Jan. 1 of each year. Use this form to report business personal property:
2013 Business Personal Property Form
or use the forms linked below to report prior year business personal property:
Each business must file a return annually declaring a summary of cost values by purchase year. Generally, an item is assessed at 85 percent of its original cost in the year acquired; thereafter, the percentage decreases by 10 percent increments. If still held after eight years, its assessed value remains constant at 10 percent of original cost.
Computer equipment and peripherals are valued at 50 percent of cost in the first year, 35 percent the second year, 20 percent the third year, 10 percent the fourth year, and five percent the fifth and subsequent years.
Businesses located in any of the four unincorporated towns in Prince William County (Dumfries, Haymarket, Occoquan and Quantico) are subject to the same business tangible personal property tax as businesses in the County.