Business Personal Property
Business Personal Property
Prince George County levies a tax on tangible personal property used in a trade (all furniture, fixtures, equipment, including backhoes, cranes, generators, etc. hand and/or power tools, copiers and other office machines, computer equipment, including mainframe and personal computers, monitors, CPUs, business telephones, signs, and any other tangible personal property) located in Prince George County on January 1st. A Return of Business Tangible Personal Property must be filed by February 5th of each year.
To request an extension on the filing of the Business Personal Property return, please return a written request by either email to commrev@princegeorgecountyva.gov, fax (804) 863-0529 or mail at PO Box 155, Prince George, VA 23875.
The tax bills for Business Personal Property are due on June 5th every year.
Business personal property tax is not prorated. However, motor vehicles utilized in a business are prorated.
Business Personal Property is depreciated using the original purchase price and original purchase date. The depreciation schedule is listed below.
Original Cost | Percentage | Assessed Value | |
Purchased 2018 or Before | 20% | ||
Purchased 2019 | 30% | ||
Purchased 2020 | 40% | ||
Purchased 2021 | 50% | ||
Purchased 2022 | 60% |