Business Personal Property

Important Notice


Business Personal Property Filing Deadline May 1, 2017

 
Returns not postmarked or delivered to our office by 5 p.m. on Monday, May 1, 2017 are subject to a 10% late filing penalty. Click here for more information.

What is Business Personal Property (BPP)?


Every James City County business must file and pay annual tax on their business personal property (BPP) or machinery and tools (M&T) (manufacturers only).

BPP is all equipment, tools, furniture, fixtures, books, appliances, computers, cash registers, and any other tangible (physical) item used in your business.


What is machinery and tools (M&T)?


M&T is the equipment used in the manufacturing process. Only manufacturers are subject to this tax.


How is it Assessed?


In lieu of depreciation rates used in federal taxes, James City County immediately depreciates the equipment by 75%, then retains that valuation until the equipment is disposed or sold. For example, a $400 computer will have an annual assessed value of $100.

How is it Taxed?


The assessed value all taxable BPP/M&T as of January 1 is multiplied by 4%. In the example above, the computer would be taxed at $4 annually.

Filing BPP


All registered businesses are mailed BPP reporting forms in early January. If you do not receive one by February 1, call the Commissioner’s Office at 757-253-6877. Complete the form by providing values for equipment acquired, equipment disposed, and total as of January 1. Attach to the return a list of all BPP used in the business, including original cost and year of acquisition. Incomplete or unsigned returns cannot be accepted.

Hard copy forms must be filed (by mail or in person) by May 1 annually. Late files are subject to a 10% penalty. Non-filers will be assessed and billed based on estimates.

Please note that we do not presently offer online filing for BPP. We also cannot accept faxed or emailed forms.


Filing M&T


All registered manufacturers are mailed M&T reporting forms in later February. Complete the form by providing values for manufacturing equipment acquired, equipment disposed, and total as of January 1. Attach to the return a list of all machinery and equipment used in the manufacturing process, including original cost and year of acquisition. Incomplete or unsigned returns cannot be accepted. Hard copy forms must be filed (by mail or in person) by May 1 annually.

Late files are subject to a 10% penalty. Non-filers will be assessed and billed based on estimates.

Please note that we do not presently offer online filing for M&T. We also cannot accept faxed or emailed forms.

Billing & Payment


Once the Commissioner of Revenue receives your BPP or M&T equipment return and list, your return will be compared to prior year filings, assessments will be calculated, and bills will be prepared. BPP and M&T are billed by the Treasurer in 2 parts:
  • The 1st half bill is mailed in July with payment due by August 5
  • The 2nd half bill is mailed in November, with payment due by December 5
  • BPP tax and M&T tax cannot be prorated. When a business moves or closes mid-year, it owes the tax for the entire year.

For More Information


Call the business tax specialist at 757-253-6877. You may also reference Code of Virginia 58.1, Chapter 35, Code of James City County, Chapter 20.