Business Personal Property

All businesses located in the City of Lynchburg are required to file an itemized list of all equipment utilized in the business as of January 1 of the current year. This list must be filed with the Commissioner of the Revenue on or before February 15 each year. If this requirement is not met, a 10% or 10 dollar penalty (whichever is greater) will be assessed. Businesses who have previously filed will receive a pre-printed card containing the previous year's information.

Equipment is assessed in the following manner:

  • Age/Assessment Ratio
    • 1 to 5 years: 30% of cost
    • Over 5 years: 25.35% of cost
  • The tax rate is $3.80 per $100 of assessed value

The business personal property tax will be billed in two installments. The first installment will be mailed May 1 and will be due June 5. The second installment will be mailed November 1 and will be due December 5.

The Business Personal Property Return (PDF) may be emailed to the Commissioner of the Revenue.

For further information regarding Business Personal Property tax 434-455-3880.