Business Personal Property
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Business personal property that is located in
the County as of January 1 each year must be declared on County tax
forms. The filing deadline is May 1.
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Business personal property is depreciated and
taxed based on a percentage of original cost. Examples of business
personal property include desks and chairs, computer hardware,
specialized tools, machinery, and equipment. (Company-owned vehicles
are subject to the filing requirements for Motor Vehicles.)
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Tax on business personal property (except motor
vehicles) is not prorated.
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Most business property (except computer
equipment) is assessed at 80% of the original cost for the first year
and 10% less each succeeding year for six years until it reaches a
floor of 20% for all property acquired in the sixth year and all
prior years.
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A new depreciation schedule for computer
equipment became effective on January 1, 2003. According to the new
schedule, computer equipment is assessed at 50% of the original cost
the first year, 35% the second year, 20% the third year, 10% the fourth
year, and 2% for all computer equipment acquired in the fifth year
and all prior years.
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The current tax rate for personal property in
Fairfax County is $4.57 for each $100 of assessed value.
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If you believe that your business personal
property has been over-assessed, you can appeal the assessment. For more
information call 703-222-8234 [TTY: 703-222-7594].
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