Business Personal Property Tax

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All businesses located in the City of Charlottesville are required to file an itemized list of all equipment utilized in the business as of January 1 of the current year. This list must be filed with the Commissioner of the Revenue on or before January 31 each year. Failure to do so will result in a personal property tax assessment being made based on the best information available (58.1 -3519 Code of VA). Businesses who have previously filed will receive a pre-printed return containing the previous year's information.

Business Personal Property and Asset Lists:  How to File

Equipment is assessed in the following manner:

Age Assessment Ratio
1 year old 25% of cost
2 years old 22.5% of cost
3 years old 20% of cost
4 years old 17.5% of cost
5 years old 15% of cost
6 years old 12.5% of cost
7 years old and older 10% of cost

•  The tax rate is $4.20 per $100 of assessed value

•  The business personal property tax will be billed in two installments. The first installment will be due June 5. The second installment will be due December 5.

The Return of Business Personal Property may be printed and mailed to the Commissioner’s office at:

  • Charlottesville Commissioner of the Revenue
  • P.O. Box 2964
  • Charlottesville, VA  22902 

Don't forget to include an asset list with your return.  Feel free to use this Sample Fixed Asset / Leased Equipment Schedule

 

 MACHINERY AND TOOLS TAX

All manufacturers located in the City of Charlottesville are required to file an itemized list of equipment utilized in the manufacturing process as of January 1 of the current year. This list must be filed with the Commissioner of the Revenue on or before January 31 each year. Failure to do so will result in a machinery and tools assessment being made based on the best information available (58.1 -3519 Code of VA). Manufacturers who have previously filed will receive a pre-printed return containing the previous year's information.

Equipment is assessed in the following manner:

 

Age Assessment Ratio
1 year old 25% of cost
2 years old 22.5% of cost
3 years old 20% of cost
4 years old 17.5% of cost
5 years old 15% of cost
6 years old 12.5% of cost
7 years old and older 10% of cost

 

•  The tax rate is $4.20 per $100 of assessed value

•  The machinery and tools tax will be billed in two installments. The first installment will be due June 5. The second installment will be due December 5.

The Return of Machinery & Tools may be printed and mailed to the Commissioner’s office at:

  • Charlottesville Commissioner of the Revenue
  • P.O. Box 2964
  • Charlottesville, VA  22902

Don't forget to include an asset list with your return.  Feel free to use this Sample Fixed Asset / Leased Equipment Schedule.

 

 

For further information regarding Machinery and Tools tax, call 434-970-3170 or email citycorbiz@charlottesville.org.

 

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