Any individual(s) or business(es) owning or possessing personal property used or connected with a business or other income producing purpose must file a Business Personal Property Listing Form. Business personal property includes:
- Machinery,
- Equipment,
- Computers,
- Furniture,
- Fixtures,
- Farm machinery,
- Airplanes,
- Supplies,
- Construction in progress,
- Etc.
All business personal property subject to taxation must be listed during the month of January.
If you listed with us last year and have an active account, a listing form will be automatically mailed to you. If you do not receive a listing form, it is your responsibility to obtain a listing form by contacting the tax office during regular office hours.
Generally, business personal property should be listed at 100% of the original cost to the original owner. The property is then valued using the North Carolina Department of Revenue Cost Index and Depreciation Schedules as a guide to calculate the replacement cost new and depreciation amounts. Other appraisal methods are used when appropriate.
It is the business owners’ responsibility to inform Currituck County Tax Department when you start a business or if you have closed and/or sold a business.
You can contact the Tax office with any questions by calling 252-232-3005 or email [email protected].
Business Tax Requirement Questions & Answers
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Does Currituck County require a business license?
No, however you are required to adhere to the Business Personal Property Listing requirements.
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Who is required to list?
Individuals or businesses owning or possessing personal property used or connected with a business or other income producing purpose on January 1.
Temporary absence on January 1 does not alleviate tax liability.
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When do I list?
January 1 – February 15.
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Where do I get a listing form?
Listing forms are mailed, prior to January 1, to those who have previously listed. Please contact the tax office if you have not received a listing form by mid-January.
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Can I get an extension?
Business Personal Property Extension Request forms must be submitted in writing during the listing period, January 1 – February 15.
Maximum allowable extension is April 15.
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I have a business in my home. Do I have to list it?
Yes. Any individual or business owning or possessing personal property used or connected with a business or other income producing purpose must file a business personal property listing form.
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I started my business after January 1, do I have to list?
You do not have to list the business for that year. However, you are required to begin listing the following year.
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I closed my business after January 1. Do I still have to list and pay taxes for the year?
Yes. Ownership, value and place of taxation are determined as of January 1 of each year.
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If nothing has changed, do I still have to list?
Yes. You are still required to list annually.
Signing listing form and marking “no changes” is not acceptable and will result in a 10% penalty.
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What if I do not list?
You will be subject to the penalties prescribed by law. The minimum penalty is 10%.
Any person whose duty it is to list any property who willfully fails or refuses to list the same within the time prescribed by law shall be guilty of a Class 2 misdemeanor.
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How can I avoid getting a late listing penalty?
Hand deliver or mail the listing form by February 15. Mail is filed on the date shown on the postmark stamped by the United States Postal Service. All other mail is considered filed on the date received in the office.
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Do you conduct audits of personal property?
Yes. Currituck County has an active compliance review program to ensure that all personal property is being properly listed.
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What is a discovery?
A discovery is processed when personal property is not listed or if the listed value was understated.
The current year plus up to five preceding years of taxes, including penalties, become due and payable. The penalties range from 10% – 60%.
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When do I get the tax bill? When is the bill due?
Property tax bills are mailed mid-August. The bills are due September 1 and are considered delinquent after January 5 of the following year.
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What if I do not agree with the assessed value?
A taxpayer who owns personal property taxable in the county may appeal the value, situs, or taxability of the property within 30 days after the date of the initial notice of value or tax bill.
If the assessor does not give separate written notice of the value to the taxpayer at the taxpayer’s last known address, then the tax bill serves as notice of value of the personal property.
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What if the property I use for my business is leased/owned by someone else?
If on January 1st, you have in your possession any business:
- Machines,
- Machinery,
- Furniture,
- Vending equipment,
- Game machines,
- Postage meters,
- Or any other equipment
which is loaned, leased or otherwise held and not owned by you, you must file a complete description and ownership of the property.
This information is for office use only. Assessments will be made to the owner/lessor.
