6. LEASED PROPERTY: List all Tangible Personal Property leased, rented, borrowed or made available for use as of January 1 (Virginia Code 58.1-3518)
Attach a separate sheet if more space is required.
COMMISSIONER OF THE REVENUE
CHRISTIANSBURG VA 24073-3169
It is a Class 1 Misdemeanor for any person willfully to subscribe a return which he does not believe to be true and correct as to every
material matter (Code of Virginia 58.1-11).
7. MOTOR VEHICLES USED IN BUSINESS: All Motor vehicles listed below have been identified from the Virginia Department of Motor Vehicles record.
All property owned or in your possession as of January 1, 2015 is subject to tax. To avoid improper assessment, indicate date of sale for any property
which you did not own on January 1st. List below additional motor vehicles, mobile homes, boats and campers owned on January 1st.
What happens if I do nothing? Since the assessment is based on information and schedules that you provide, an assessment will be made by means of
percentage of original cost and /or fair market value. If no information is provided, the Commissioner of the Revenue is required by law to assess property
based on the best information available, which will result in a tax bill due. This is called a statutory assessment (VA Code Sec. 58.1-3519).
The use of "SAME AS LAST YEAR", "NO CHANGE", "SEE ATTACHED" or returning a blank form will constitute an invalid filing and may be subject to a late filing
penalty. If "ZERO" or "NONE" is listed, an explanation describing how you are able to operate a business without tangible personal property must be
provided.
How can I get help? Additional forms, information and assistance are provided by the Commissioner of the Revenue Office. You may call (540) 382-5710 or
email businesspp@montgomerycountyva.gov.
MONTGOMERY COUNTY BUSINESS PERSONAL PROPERTY RETURN INSTRUCTIONS
What is this form? This is your Business Personal Property declaration on which you are to file all furniture, fixtures, tools, light/heavy equipment, computer
equipment and merchants capital (inventory) used in a trade or business. Machinery and Tools used in manufacturing, mining, processing, reprocessing, radio
or television broadcasting, dry cleaning, commercial laundry or motor vehicle cleaning business are to be listed and segregated as a separate class (VA Code
Sec. 58.1-3507)
What should I do with it? First take a look at the preprinted ownership information for accuracy. Then follow the instructions for each box where applicable.
You need to provide a complete list of all property used in your business. The list should include the name of the item, acquisition date and cost (whether
fully depreciated or not for federal income tax purposes). In the event there was no cost for acquisition, please provide an estimate of fair market value at the
time of acquisition.
Am I required to file this form? If you conducted business as an individual, partnership or corporation, or if you own leased business equipment in
Montgomery County on January 1 of this year, you must complete and return this form.
When is it due? The form and associated schedules/property lists are due no later than May 1st. If you file late or not at all, by law a 5% penalty or $10.00
whichever is greater will be added to your bill. If you are unable to file by May 1st, you may request a 60 day extension. The request must be in writing to the
Commissioner of the Revenue and must be made prior to May 1st.
LIST BELOW VEHICLES THAT ARE USED IN BUSINESS Indicate costs of vehicles 14,000lbs or more, boats plus motors & aircraft in the space provided.
Address & Phone Number of Owner
Start & End Dates
of Lease
Description of Item (ID, Serial, Model or
Title Numbers)
