Wise
County
Commissioner of the Revenue |
 |
| Wise
County Courthouse
206 E. Main St.
Rms. 224 & 226
PO Box 1278
Wise VA 24293 |
Email
(276) 328-3556
Fax (276) 328-6937
Mon - Fri 8:30 AM - 5:00 PM |
Personal
Property Tax Relief (PPTRA) information
Personal Property FAQs
Business P.P. FAQs
Mobile Homes
Disabled Veteran's
Exemption
Personal
Property tax applies at varying rates to the
assessed value of the tangible personal property.
Values are established by recognized pricing
guides or a percentage of cost based on purchase
date.
The Commissioner of the Revenue's Office
is the only office that has the authority to
make an adjustment to an assessment.
The
office is online with the
Division of Motor Vehicles. Access
is provided by the
Virginia Information Technology Agency .
Online capability assists in tax assessments.
Personal
property clerks screen all returns for personal
property owned January 1 of each year.
Property listed must include all furniture,
fixtures, tools, machinery, etc.
Every
entity operating a business who owns or leases
equipment within the county must file a tangible
personal property return. Forms are provided
by the Commissioner of the Revenue. The
required filing includes the listing of equipment
or property owned, date of purchase and the
purchase price.
Assessment
Procedure for Personal Property: NADA,
square footage, percentage of owners cost; Federal
Income tax return helpful with assessment ratio.
Local Mobile Property is defined as boats, campers,
recreational vehicles, trailers and airplanes.
Any taxpayer who reasonably believes that the
assessment of any Local Mobile Property is in
error must apply to the Commissioner of the
Revenue. The application for review must
be made within one year from the date of assessment,
or one year from the last day of the tax year,
whichever is later. -- Appeal
of Local Mobile Property Tax.
County
Personal Property Tax Rates are assessed at
rate/$100 Assessed Value.
Tangible Personal Property -
$1.49
Merchant Capital
- $2.85*
*Merchant's
Capital has an additional assessment ratio applied.
Inventory with an assessment of less than $300,000
has an additional percentage of 45% applied.
Inventory greater than $300,000 has an additional
percentage of 35% applied.
Junk
Yard License - $25.00 due annually
Coal,
Gas and Oil License:
Coal - 2% of gross receipts due monthly
Gas - 3% of gross receipts due monthly
Oil - 0.5% of gross receipts due monthly
Cable
TV Franchise fee - 5% of gross revenue due quarterly
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