Business Tangible Personal Property (BTPP) Tax  

The City’s Business Tangible Personal Property Tax is managed by the Department of Finance’s Business Unit. The Business Tangible Personal Property Tax is based on the value of property and is commonly referred to as an ad valorem tax.  

Business Tangible Personal Property Tax Forms  

• Return of Business Tangible Personal Property – Use this form to file your Business Tangible Personal Property tax return for the current tax year 
• Penalty and Interest Waiver Online Application Form – Use this online form to request a waiver of penalty and interest for this tax type

Need a Return of Business Tangible Personal Property form for a prior tax year? Please contact RVA 311 at (804) 646-7000 or click here to submit a ticket. 

Business Tangible Personal Property Tax Rate, Dates, Penalty, and Interest 

• Rate: $3.70 per every $100 of value for furniture & fixtures and computer equipment 
• Dates:  
  • March 1 Business Tangible Personal Property filing due 
  • June 5 Business Tangible Personal Property Tax due 
• Penalty: 10 percent or $10.00, whichever is greater, upon the failure to file an application or the failure to pay the tax by the appropriate due date 
• Interest: 10 percent annually when not paid by the due date which begins calculating the first of the following month 

Business Tangible Personal Property Tax Governing Legislation* 

For detailed legislative information on Business Tangible Personal Property Tax, please refer to the following: 

• Code of Richmond: Division 6. - Tangible Personal Property Taxes and Machinery and Tools 
• Code of Virginia: Article 1. Tangible Personal Property Tax 

* Please note, this list may not be exhaustive of all sections of governing code 

Business Tangible Personal Property Tax Frequently Asked Questions (FAQs) 

What is considered Business Tangible Personal Property? 
Personal property, i.e., furniture, fixtures, and equipment, that is used or employed in a trade or business, including computer equipment. This does not include vehicles used in the business, as these are separately assessed. Personal property used in a manufacturing business is a separate class of personal property that is subject to Machinery and Tools Taxes. 

How is the Business Tangible Personal Property Tax assessed? 
The Business Tangible Personal Property Tax is self-assessed by the owner of the property based on the original cost of the property, the year it was acquired and the type of property. There are two types of business personal property:  

• Furniture, Fixtures, and Equipment  
• Programmable Computer Equipment 

Below are the tables for the assessment ratios for each of these classes of Business Tangible Personal Property: 

Assessment Ratios for Furniture, Fixtures, and Equipment 

 
Assessment Ratios for Programable Computer Equipment 

What is the process for reporting and paying Business Tangible Personal Property Tax in the City of Richmond? 
The filing, billing, and payment of the Business Tangible Personal Property Tax in the City of Richmond is a three-step process:  

1. The business completes a Return of Business Tangible Personal Property, including a fixed asset schedule and schedule of leased equipment, and files the return with the City of Richmond on, or before, March 1 of each tax year. 
2. Upon receipt of the tax return, the Department of Finance enters the data in the City’s Revenue Administration System and issues a tax bill to the business, or property owner in the case of leased equipment. 
3. The business remits payment of the taxes due, as presented on the tax return and subsequent bill from the City of Richmond on or before June 5. 

Please contact our Revenue Administration personnel using RVA 311 at (804) 646-7000 or click here to submit a ticket in the event you do not receive either the tax return or bill prior to the date it is due to be filed or taxes remitted. 

What if I do not receive either the business tangible personal property return or bill from the City?  
Both Virginia and City codes place the responsibility for obtaining the necessary information to file and remit taxes by the due date(s) on the taxpayer without being called upon to do so by the local tax official. Our responsibility is to notify taxpayers, in a paper of general circulation, of the tax due dates and issue tax bills not less than fourteen days prior to the due date. The Department of Finance advertises the tax due dates in several local newspapers, as well as on our City web site and issues tax bills to the address of record in our system forty five days before the due date. 

Can I appeal a Business Tangible Personal Property Tax assessment? 
An administrative appeal may be filed in writing concerning the Business Tangible Personal Property Tax assessment with the Director of Finance of the City of Richmond at the following address:  

Director of Finance  
Attn: Business Tangible Personal Property Appeal  
900 E. Broad Street, Suite 1003  
Richmond, VA 23219  

Upon receipt of a final local determination issued by the Director, you may file an appeal with the Tax Commissioner of the Virginia Department of Taxation. For more information on this process, please click here.  

A judicial appeal may be filed with the Richmond Circuit Court at the following address:  

Richmond Circuit Court  
Attn: Business Tangible Personal Property Appeal  
400 N. Ninth Street  
Richmond, VA 23219 

If you have a question, comment, or concern regarding City of Richmond Business Tangible Personal Property Tax, please contact RVA 311 at (804) 646-7000 or click here to submit a ticket.