Overview
Business personal property that is located in King George County as of Jan. 1 of each year must be declared on a business personal property form by Feb. 15 of that same year. Only the King George County business personal property return form will be accepted. A detailed itemized business equipment list must be submitted with your return, or it will be statutorily assessed and a possible penalty imposed. DO NOT write the words "same as last year," "N/A," or similar on the business equipment form; it will not be accepted and is subject to penalty.
Business personal property is depreciated and taxed based on a percentage of the original cost in the year purchased.
For example: if you purchased equipment in 2025, it will be assessed at 30% of the purchased price.
Year of Purchase / Percentage of Cost
- 2025 30%
- 2024 25%
- 2023 20%
- 2022 15%
- 2021 & prior 10%
What counts as a business personal property?
The term "business personal property" pertains to any equipment used in the course of your business. Examples of business personal property include:
- Desks, chairs, filing cabinets, fixtures, etc.
- Computer hardware (towers, printers, etc.)
- Tools
Software is not included as personal property for your business.
The current tax rate for business personal property in King George is $3.25 per $100 of assessed value.
Machinery & Tools (applies to manufacturing companies only)
The percentage of cost (as seen above) equals the assessed value. The current tax rate for machinery and tools in King George is $2.50 per $100 of assessed value.
Documents & Forms
For additional assistance, please contact our Personal Property Division at ashleym@co.kinggeorge.state.va.us