Personal Property FAQ

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  • If I sell my vehicle in February, do I have to pay the full year taxes?

    Yes. Dickenson County does not prorate taxes. You must pay the full years taxes on vehicle you own on January 1 of each year.
     
  • How long do I have to appeal a tax assessment?

    There is a three year statute of limitations on making a tax adjustment.
     
  • Who is required to file?

    Anyone conducting business as an individual, partnership or corporation, or if you own leased business equipment in Dickenson County of January 1, of each year must file by May 1, with the Commissioner of the Revenue  PO Box 1067 Clintwood, VA 24228
     
  • What items are listed on the Business Tangible Personal Property Return?

    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.
     
  • What information is needed for these items?

    Provide 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.
     
  • What happens if I don’t file?

    If a taxpayer chooses not to file, a statutory assessment will be made. 
     
  • Who has to pay personal property tax?

    Anyone who has personal property located in Dickenson County on January 1 each year.
     
  • What is considered personal property?

    Automobiles, mobile homes, motorcycles, trailers, aircraft business personal property,                               machinery, tools and merchant’s capital.
     
  • Who sets the personal property tax rate?

    The Board of Supervisors establishes a personal property tax rate each year. The tax rate may                 vary according to category.
     
  • How is personal property assessed?
    The 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 the NADA books or percentage of costs.  The value taken from the NADA guide is the low book value which is the loan value.
     
  • When is my personal property tax payment due?

    Taxes on all personal property are due December 5th to avoid penalty and interest.
     
  • If my personal property is unused or unlicensed, do I still pay personal property taxes?

    Yes. All personal property is taxable, even unlicensed vehicles.
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