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Business Property Tax
Pittsylvania County assesses business personal property, merchants' capital and machinery and tools owned as of January 1 of the tax year.
Business personal property (furniture, fixtures, and hand tools) is assessed at a percentage of the cost ranging from 30-5% depending on the year acquired. Heavy construction machinery, including but not limited to land movers, bulldozers, front-end loaders, graders, packers, power shovels, cranes, pile drivers, forest harvesting and silvicultural activity equipment and ditch and other types of diggers owned by businesses are assessed at 10% of the original cost. The tax rate set by the Board of Supervisors is the same as personal property - $8.75 per $100 assessed value.
Merchants' capital is assessed at the following tiers: 30% of the original cost of $1 to $1,000,000; 10% of original cost $1,000,001 to $5,000,000; 5% of original cost $5,000,001 to unlimited and the tax rate set by the Board of Supervisors is $2.75 per $100 assessed value. Machinery and tools are assessed at 10% of original capitalized cost and the tax rate set by the Board of Supervisors is $4.50 per $100 assessed value.
Businesses are requested to file an itemized list of personal property and equipment declaring the date of acquisition and original cost. Machinery or tools used directly in the harvesting of forest products and liable for payment of forest products tax shall be taxed at the machinery and tool rate set by the Board of Supervisors, which is currently $4.50 per $100 assessed value. To qualify for this taxation, copies of the forest products tax return must be submitted with the yearly reporting form.
The return must be filed by February 15; however, if this date falls on a weekend or a legal holiday, the deadline is the next business day. If the return is received after the filing date or not returned there is a 10% or $10 penalty (whichever is greater) assessed. Any questions concerning the business personal property tax should be directed to 434-432-7945.
Business Personal Property
Business personal property (furniture, fixtures, and hand tools) is assessed at a percentage of the cost ranging from 30-5% depending on the year acquired. Heavy construction machinery, including but not limited to land movers, bulldozers, front-end loaders, graders, packers, power shovels, cranes, pile drivers, forest harvesting and silvicultural activity equipment and ditch and other types of diggers owned by businesses are assessed at 10% of the original cost. The tax rate set by the Board of Supervisors is the same as personal property - $8.75 per $100 assessed value.
Merchant's Capital & Machinery & Tools
Merchants' capital is assessed at the following tiers: 30% of the original cost of $1 to $1,000,000; 10% of original cost $1,000,001 to $5,000,000; 5% of original cost $5,000,001 to unlimited and the tax rate set by the Board of Supervisors is $2.75 per $100 assessed value. Machinery and tools are assessed at 10% of original capitalized cost and the tax rate set by the Board of Supervisors is $4.50 per $100 assessed value.
Filing Information
Businesses are requested to file an itemized list of personal property and equipment declaring the date of acquisition and original cost. Machinery or tools used directly in the harvesting of forest products and liable for payment of forest products tax shall be taxed at the machinery and tool rate set by the Board of Supervisors, which is currently $4.50 per $100 assessed value. To qualify for this taxation, copies of the forest products tax return must be submitted with the yearly reporting form.
The return must be filed by February 15; however, if this date falls on a weekend or a legal holiday, the deadline is the next business day. If the return is received after the filing date or not returned there is a 10% or $10 penalty (whichever is greater) assessed. Any questions concerning the business personal property tax should be directed to 434-432-7945.
If you have filed these Business Tangible Personal Property reports in the past, the Commissioner’s Office will automatically send you the required reporting form for the current year by early January.
If your business is new, or has never filed these reports, you may request them by contacting the Commissioner’s Office at 434-432-7945 or by written communication to P.O. Box 272, Chatham, VA 24531.