FREQUENTLY ASKED QUESTIONS - PERSONAL PROPERTY
Personal property's primary characteristic is its mobility. It includes machinery, equipment, furniture and fixtures associated with commercial, industrial, or agricultural enterprises. Business inventories are exempt from property tax (unless available for rent), but supplies consumed in the operation of a business are taxable. Your family automobile, household goods, and personal effects are not subject to personal property tax unless they are used in a business.
Everyone who owns personal property used in a business must complete a personal property listing by April 30 each year. The listing must include a description of the property, its cost, and the acquisition date. The Assessor uses the listing to value property for taxes payable the following year. Personal property tax rates are the same as for real property.
How can I reach you?
Mailing address: Franklin County Assessor's Office, 1016 N 4th, Pasco, WA 99301
What if I close my business?
If you don't have the equipment, we need to know what you did with it. Specifically: the date that the business closed and the location of the equipment. If sold: sale date, sale price, new owner's name, new owner's address.
The Assessor's estimate is way too high - what can I do?
- Depreciation Schedule
- Equipment Register
- IRS Schedule C
- Balance Sheet
- General Ledger
- Schedule of leased Equipment
How can I get a listing?
Can I give you an address or name change over the phone?
When does a listing need to be returned?
When can I appeal my assessment?
Who do I talk to about an appeal?
What equipment do I declare?
I have a home business and I use equipment for business and personal use; is it still considered business equipment?
Are there any exemptions?
Are extensions available for late filing a listing?
Are there penalties for filing a listing after the due date?
Can these penalties be waived?
What are considered supplies?
How are supplies calculated?
When are my personal property taxes due?
How much are my personal property taxes?
How much are my personal property delinquent taxes?