Business tangible property taxes

Business tangible property tax form - to receive a copy of this form please call the office or email businesspp@montgomerycountyva.gov.

The Commissioner of the Revenue is responsible for the assessment of tangible property owned by businesses. Business tangible property includes, but is not limited to, office equipment, office furniture and fixtures, computer equipment, heavy equipment, trucks, tractors, trailers and machinery and tools.

Business tangible property is assessed on a declining scale based on the cost and year of acquisition. A list of all business equipment, furniture and fixtures and computer equipment is required to be attached to the return. The attachment must show date of acquisition and original cost.

Tractors and semitrailers that carry apportioned plates and are for hire must file a report showing interstate miles traveled in each state. Additional information on the assessment of these vehicles may be obtained by contacting the Commissioner's Office.

A business tangible property return must be filed annually by May 1 for all business tangible personal property owned as of Jan. 1. We do not accept form 762 as a complete filing for business tangible property. Our provided form must be used to constitute a complete filing. The Commissioner's Office uses a statutory assessment program for businesses that do not file a complete form. Taxes are due Dec. 5. Please direct any questions about assessment to the Commissioner's Office. For questions about billing, contact the Treasurer's Office.