Frequently Asked Personal Property Questions
I sell my vehicle in February do I have to pay
the full year taxes?
Wise County does not prorate taxes. You must
pay the full years taxes on the vehicle you
owned on January 1 of each year.
long do I have to appeal a tax assessment?
There is a three year
statute of limitations on making a tax adjustment.
is required to file?
conducting business as an individual, partnership
or corporation, or if you own leased business
equipment in Wise County of January 1, of each
year must file by May 1, with the Commissioner
of the Revenue PO Box 1278 Wise, VA 24293.
items are listed on the Business Tangible Personal
All furniture, fixtures, tools and equipment used
in a trade or business. Machinery and tools
used in a manufacturing, mining, radio or television,
dry cleaning , laundry or farming.
information is needed for these items?
a complete schedule of all personal property
used in your business. This schedule should
include the name of items, acquisition date
and cost. In the event there was no cost for
acquisition, an estimate of fair market value
at the time of acquisition will suffice.
happens if I don't file?
a taxpayer chooses not to file, a statutory
assessment will be made.
has to pay personal property tax?
who has personal property located in Wise County
on January 1 each year.
is considered taxable personal property?
mobile homes, motorcycles, trailers, aircraft
business personal property, machinery tools
and merchant's capital.
sets the personal property tax rate?
Board of Supervisors
establishes a personal property tax rate each
year. The tax rate may vary according to category.
is personal property assessed?
assessed value of personal property is based
on a recognized pricing guide if available or
the percentage of original cost. Percentages
may vary according to the category of property.
The pricing guides used for motor vehicles are
NADA books or percentage of costs. The value
taken from the
NADA guide is the low book value which is
the loan value.
is my personal property tax payment due?
on all personal property are due October 31
to avoid penalty and interest.
there a penalty for paying my personal property
A penalty of 10% of the assessed tax will be
added to the taxes due.
In addition, interest will be due on
both the tax and penalty, at a rate of 5% per
annum until paid.
my personal property is unused or unlicensed,
do I still pay personal property taxes?
All personal property is taxable, even unlicensed
are my tax obligations if I am on active military
duty maintaining Wise County as my legal residence?
the Soldiers' & Sailors' Civil Relief Act,
your tax liability would be to Wise County regardless
of where you are stationed or where your personal
property may be garaged during the year.
an active duty member of the military will I
be taxed for personal property in Wise
County if I maintain a legal domicile in a state
other than Virginia?
You would not be taxed in Wise County on personal
property registered in the name of the service
person only, and if you reside here by virtue
of military orders. However, personal property
registered jointly with a non-military member
would be taxable both for personal property
taxes and county decals if the same tax was
not paid to their legal domicile.