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 or farm 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.
Washington State Dept of Revenue audits a percentage of personal properties each year in the county.
1. How can I reach you?
Mailing address: Franklin County Assessor's Office, 1016 N 4th, Pasco, WA 99301
2. What if I close my business?
Report the details (including the disposition of property) to our office via e-mail or on the listing. If the equipment is in your possession, continue to file the listing - due every April 30th, as usual. Please don't confuse relocating, selling, walking away from, or reorganizing the business, with closing it. You still need to report the equipment.
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.
3. The Assessor's estimate is way too high - what can I do?
Send us the following document(s), within the appeal deadline, and we will review the assessment:
- Depreciation Schedule
- Equipment Register
- IRS Schedule C
- Balance Sheet
- General Ledger
- Schedule of leased Equipment
4. How can I get a listing?
You can print a blank affidavit from here, or request one by email at email@example.com[Back to top]
5. Can I give you an address or name change over the phone?
No, changes can only be made by written notification. E-mail us with the changes or annotate them on the listing.[Back to top]
6. When does a listing need to be returned?
We will accept them at any time, but a listing must be postmarked by April 30th to avoid a late filing penalty.[Back to top]
7. When can I appeal my assessment?
You have 30 days from the date on the notice of value.[Back to top]
8. Who do I talk to about an appeal?
The first step should be to contact our office, if you are not satisfied with the results that you receive then you can appeal the decision to the Board of Equalization. If you disagree with our calculation on reported assets, call or e-mail us.[Back to top]
9. What equipment do I declare?
Any equipment used in the operation of a business.[Back to top]
10. I have a home business and I use equipment for business and personal use; is it still considered business equipment?
Yes, it should be reported regardless of the percentage of use.[Back to top]
11. Are there any exemptions?
There is $15,000 "Head of Household" exemption from the reported assessed value for sole proprietors only, this would affect taxes due in 2008. You must claim this on your listing every year. We will review your eligibility and apply the exemption as applicable.[Back to top]
12. Are extensions available for late filing a listing?
No.[Back to top]
13. Are there penalties for filing a listing after the due date?
We add 5% per month (or fraction of a month) to your tax bill, not to exceed 25% of the total tax.[Back to top]
14. Can these penalties be waived?
If there are extenuating circumstances, notify us of the details.[Back to top]
15. What are considered supplies?
Supplies are items used or consumed in the operation of the business.[Back to top]
16. How are supplies calculated?
Take the total amount purchased by the business annually and divide by 12. Enter that amount in block 3 of the listing.[Back to top]
17. When are my personal property taxes due?
The first half is due by April 30th and the second half by October 31st. Personal and real property taxes are due at the same time.[Back to top]
18. How much are my personal property taxes?
Same as real property, approximately 1.4% of the assessed value per year.[Back to top]
19. How much are my personal property delinquent taxes?
Contact the Franklin County Treasurer at (509) 545-3518.[Back to top]