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, computer equipment and peripherals located in the County on Jan. 1 of each year. Please use the Business Personal Property Form to file your annual business personal property return.
2015 Business Tangible Personal Property Form
Use the forms linked below to report prior year business personal property.
Each business must file annually a Business Tangible Personal Property Return declaring a summary of property cost values by purchase year. Generally, an item is assessed at 85% percent of its original cost in the year acquired and thereafter, the percentage decreases by 10% percent increments. After eight years, the item's 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 5% percent the fifth and all subsequent years.
Businesses located in any of the towns within Prince William County (Dumfries, Haymarket, Occoquan, and Quantico) are subject to the same business tangible personal property tax as all other businesses located in the County and must file with the County an annual Business Tangible Personal Property Return. (see http://www.oag.state.va.us/files/14-017_Black_3.pdf)