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1. What is the notice I received regarding Personal Property?

It is a personal property listing generated by
the Department of Revenue regarding a business license you applied for in the
previous tax year. Personal property is a recorded list of all the assets you
use to run your business. Examples of the personal property that would be
listed include; printers, computers, tractors, tools, furniture, construction
equipment, and supplies. Business owners are required to report their personal
property and pay tax on the value of the equipment. 

2. How do I complete a personal property listing?

• Name of Business (may already be provided, update if necessary)
• Mailing Address (may already be provided, update if necessary)
• Location of your business (top left-hand corner under the mailing address)
• Supplies (monthly estimation) kept on hand, such as pens, papers, staples, pencils, etc. (top right-hand corner box)
• Check the appropriate box for your type of business; sole proprietor, LLC, Corporation, LLP. (top right-hand corner box)
• Provide an asset list of all the equipment that you own and use to run your business as of January 1, 2019.
• Include a description of the item, year of purchase, and the amount paid at the time of purchase (without the sales tax)
• Sole proprietors receive a $15,000 in value exemption, if the personal property list provided to the county is less than $15,000 in value the county will not open an account. However, the owner still needs to file the listing to receive the exemption.
  
  
  If you purchased an existing business that has previously filed with our office, this is not the same thing as a first time filer. Please contact our office to avoid penalization. 
  

First time Filer? The filing deadline for this form is July 31^st, 2019, not April 30^th, 2019 as indicated on the form.

3. What is considered a personal property asset?

Simply put, a personal property asset is anything that a business uses to operate. The biggest distinction between personal property and real property is that personal property is moveable. ALL equipment used to run the business needs to be reported. Including a monthly estimation of supplies kept on hand such as pens, pencils, paper, staples and so forth. Keep in mind that supplies have different meaning in each industry. (record monthly estimate in top right-hand corner)

If you have further question on what is considered personal property please contact our office. 

4. How can I submit my completed listing?

• Email us at personal.property@co.yakima.wa.us (PDF, Word, Excel formats accepted) 
• Mail in your listing to 128 N 2^nd St Rm 112, Yakima, WA 98901
• Fax your listing to 509-574-1101
•  E-file Accounts: https://enoticesonline.com/

5. Am I being double taxed on my equipment?

Personal property is not double taxation. It is a different form of property tax used to pay the same levies as real property for schools, roadways, and so forth. You can read more about this in the Personal Property Informational Pamphlet provided by the Department of Revenue.

6. What if I bought the equipment used or if it is extremely old?

We understand equipment depreciates over time, this is why we ask for a description, a year of purchase, and the original cost of the equipment (w/o the sales tax). These three components are used to determine the true fair market value of the equipment. Older assets that have depreciated over time will eventually reach a plateau in valuation. They will stay at this plateau until they are sold or destroyed. Items typically do not reach a 0 value. Personal Property Valuation Guidelines are provided to our office yearly by the Department of Revenue. 

7. I am a farm account; doesn’t that mean I am exempt from personal property tax?

Being a farm account does not automatically exempt you from all personal property tax. The Farm Machinery and Equipment that is available through the Department of Revenue will exempt qualifying equipment from state taxation. This means the exemption will remove any state levy rate from your tax bill, lowering the overall amount of tax you pay. Since this does not exempt you from local taxation, you are still required to file a listing with our office annually. 

8. Is there a way to file my personal property listing online?

Yes, there is a way you can e-file your personal property listing. Unfortunately, it is not available for first time filers. Once you have an account and begin receiving your January personal property notice, the mailing itself will have an authorization code, boldly lettered, located in the top left-hand corner of the page. Also included is a small handout on how to use that authorization code to access your personal property bill through The Master’s Touch eNoticeOnline.

9. Do I still have to file my listing if I have not recently purchased or sold any assets?

Yes, even if your listing has not
changed at all from the previous year you still need to file a listing with our
office by April 30^th each year. If a listing is late, it will be penalized 5% each month it is late up to 25% on your tax bill. 

Failure to file a listing entirely will result in an “Assumed Increase in Value” line. As well as the 25% penalty.