Finance Home  |  BusinessTangible Personal Property and Machinery & Tools Tax
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The Business Tangible Personal Property (BTPP) and Machinery and Tools (M&T) tax are taxes imposed on every business owning or renting tangible personal property or machinery and tools used in the business or professional occupation in the County of Albemarle. The tax rate for both BTPP and M&T is $4.28 per hundred of assessed value (0.0428).

Every business owner located in the County of Albemarle owning or renting tangible personal property or machinery and tools used in a business or professional occupation must file a BTPP return by May 1 of every year. If a business does not own or rent tangible personal property, the business must still file a BTPP return every year stating that the business does not own or rent any personal business property located in Albemarle County. Tangible business personal property is not subject to proration. All property is taxed for the entire year, even if the property is sold or moved out of Albemarle after January 1 of the current tax year.

All individuals or entities conducting business in the County are required to register with the Finance Department – Revenue Administration Assessments division, obtain a business license, and remit the appropriate BTPP return and payment by the deadline.

To register your business, please visit or call the Finance Department, Tax Assessments division or download a business license application here and mail it to the Finance Department at 401 McIntire Rd, room 133, Charlottesville VA 22902.

Once registered, you can easily file and pay your business tangible personal property taxes online by clicking the button below. You can also find the BTPP form here. The completed BTPP return can be emailed to albemarlecountyfinance@albemarle.org or mailed to: County of Albemarle, 401 McIntire Rd, Room 133, Charlottesville, VA 22902.


WHAT TO FILE:

Property belonging to the business: All tangible personal property, machinery, and tools, and expensed items in the business possession on January 1, segregated by year of acquisition. Include fully depreciated/expensed items. Report full cost, NOT depreciated basis. Cost includes sale and use tax, freight and installation. Do not deduct trade allowance. Do not include daily rental property, airplanes, boats or vehicles licensed to operate upon highways.

Itemized List: An Itemized List of all equipment owned and used by the business MUST be attached to the BTPP return when filed with the Finance Department Revenue Administration division. Do not write or stamp “same as last year.”

Expensed Property: Include all Internal Revenue Code Section 179 deductions. DO NOT include vehicles or other exempt items listed immediately above.

Leased Property belonging to others: Report the name and address of Lessor. DO NOT include cost for leased equipment on the form.

Machinery and Tools: Businesses that have been classified as a manufacturer, miner, radio or television broadcaster, dairy, dry cleaner or laundry business are required to separately report machinery and tools. A business classified as a processor or re-processor is required to report both Machinery and Tools along with Furniture, Fixtures, and Equipment.


FAILURE TO FILE:

Businesses that do not file a return as required by Virginia Code § 58.1-3518 by the deadline are subject to a penalty of 10% of the tax assessable on such return or $10, whichever is greater. The Finance Department Revenue Administration division is required by law to make an assessment based on the best available information and issue a tax bill accordingly. In addition to the late filing penalty, penalties for nonpayment are assessed if payment is not received by the due date.


ASSESSMENT FACTORS (percentage of cost):

Assessments of Business tangible personal property taxes are based on percentage of original cost and the purchase year of the property. For example, property purchased last year (first year) will be assessed at 25% of the original purchase price. The assessment is then multiplied by the tax rate (0.00428) to calculate the tax due.

1st Year

 25.0 %

2nd Year

 22.5 %

3rd Year

 20.0 %

4th Year

 17.5 %

5th Year

 15.0 %

6th Year  

 12.5 %

7th Year and Older

 10.0 %

BUSINESS PERSONAL PROPERTY TAX STATEMENTS:

2019 Business Personal Property Tax Statement

2018 Business Personal Property Tax Statement

2017 Business Personal Property Tax Statement

2016 Business Personal Property Tax Statement

FOR MORE INFORMATION:

Call the Revenue Administration Assessments Division at (434) 296-5851, Option #3