Personal Property Department
Submit Personal Property Return (Form 762) Electronically by Email –> email@example.com.
Wise County Courthouse
206 E. Main St.
Rooms 224, 225 & 226
PO Box 1278
Wise VA 24293
Fax (276) 328-6937
Personal Property Tax Relief (PPTRA) information
Personal Property FAQs
Business P.P. FAQs
Disabled Veteran's Exemption
Income Tax Assistance
State Income Tax
State Income Tax FAQs
Property tax applies at varying rates to the
assessed value of the tangible personal property.
Values are established by recognized pricing
guides or a percentage of cost based on purchase
The Commissioner of the Revenue's Office
is the only office that has the authority to
make an adjustment to an assessment.
office is online with the
Department of Motor Vehicles. Access
is provided by the
Virginia Information Technology Agency .
Online capability assists in tax assessments.
property deputies screen all returns for personal
property owned January 1 of each year.
Property listed must include all furniture,
fixtures, tools, machinery, etc.
entity operating a business who owns or leases
equipment within the county must file a tangible
personal property return. Forms are provided
by the Commissioner of the Revenue. The
required filing includes the listing of equipment
or property owned, date of purchase and the
Procedure for Personal Property: NADA,
square footage, percentage of owners cost; Federal
Income tax return with depreciation schedules is needed.
Local Mobile Property is defined as boats, campers,
recreational vehicles, trailers and airplanes.
Any taxpayer who reasonably believes that the
assessment of any Local Mobile Property is in
error must apply to the Commissioner of the
Revenue. The application for review must
be made within one year from the date of assessment,
or one year from the last day of the tax year,
whichever is later. -- Appeal
of Local Mobile Property Tax.
Personal Property Tax Rates are assessed at
rate/$100 Assessed Value.
Tangible Personal Property -
Machinery & Tools - $1.41
Merchant Capital - $2.85*
Capital has an additional assessment ratio applied.
Inventory with an assessment of less than $300,000
has an additional percentage of 45% applied.
Inventory greater than $300,000 has an additional
percentage of 35% applied.
Yard License - $25.00 due annually
Gas and Oil License:
Coal - 2% of gross receipts due monthly
Gas - 3% of gross receipts due monthly
Oil - 0.5% of gross receipts due monthly