Personal Property Assessment Schedule
Amherst County is not a prorating locality, all assessments are based on what is owned as of January 1.
The following schedule is used in assessing personal property in Amherst County:
The following schedule is used in assessing personal property in Amherst County:
Vehicles are assessed at 100% of J D POWER car pricing guide clean trade in value. Current tax rate is $3.45 per $100.00 of assessed value.
Vehicles that are not listed in the J D POWER car pricing guide are assessed at 90% of cost. Current tax rate is $3.45 per $100.00 of assessed value.
Starting January 1, 2012 high mileage will be taken into consideration if a 762 Personal Property form is filed before May 1. Provide a copy of the vehicle's last inspection receipt for proof of mileage.
Business Equipment is assessed at 30% of original cost 1 to 4 years old and older than 4 years is taxed at 25% of cost with a minimum value of 250. Current tax rate is $3.45 per $100.00 of assessed value.
Boats and camping trailers are assessed at 80% of cost. Current tax rate is $3.45 per $100.00 of assessed value.
Mobile Homes are assessed by the square foot. Taxed at the Real Estate tax rate of $0.61 per $100.00 of assessed value.
Machinery & Tools are assessed at 25% of cost. Current tax rate is $2.00 per $100.00 of assessed value.
A $25.00 license fee is assessed on all vehicles that are state licensed starting in 2014.
A $8.00 license fee is assessed to all trailers starting in 2014.
Please note that Amherst County is not a prorating locality, all assessments are based on what is owned January 1.
IMPORTANT NOTICE:
We currently mail out business personal property returns currently on our tax roles as of January 1 of each year. Please fill out and make any corrections and return it to the Commissioner of the Revenue, P.O. Box 719, Amherst,Virginia 24521.
