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Personal property's primary characteristic is its mobility.
It includes machinery, equipment, furniture and fixtures
associated with commercial, industrial, or agricultural
enterprises. Business inventories are exempt from property
tax (unless available for rent), but supplies consumed
in the operation of a business are taxable. Your family
automobile, household goods, and personal effects are not
subject to personal property tax unless they are used in
a business.
Everyone who owns personal property used in a business must
complete a personal property listing by April 30 each year.
The listing must include a description of the property, its
cost, and the acquisition date. The Assessor uses the listing
to value property for taxes payable the following year. Personal
property tax rates are the same as for real property.
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How
can I reach you? |
E-mail: assessor@co.franklin.wa.us
Telephone: 509-545-3506
Mailing address: Franklin County Assessor’s Office,
1016 N 4th, Pasco, WA 99301 |
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What
if I close my business? |
Report
the details (including the disposition of property) to
our office via e-mail or on the listing. If the equipment
is in your possession, continue to file the listing -
due every April 30th, as usual. Please don’t confuse
relocating, selling, walking away from, or reorganizing
the business, with closing it. You still need to report
the equipment.
If you don’t have the equipment, we need to know
what you did with it. Specifically: the date that the
business closed and the location of the equipment. If
sold: sale date, sale price, new owner's name, new owner's
address. |
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The
Assessor's estimate is way too high - what can I do? |
Send
us the following document(s), within the appeal deadline,
and we will review the assessment:
• Depreciation Schedule
• Equipment Register
• IRS Schedule C
• Balance Sheet
• General Ledger
• Schedule of leased Equipment |
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How
can I get a listing? |
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Can
I give you an address or name change over the phone? |
| No,
changes can only be made by written notification. E-mail
us with the changes or annotate them on the listing. |
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When
does a listing need to be returned? |
| We
will accept them at any time, but a listing must be postmarked
by April 30th to avoid a late filing penalty. |
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When
can I appeal my assessment? |
| You
have 30 days from the date on the notice of value. |
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Who
do I talk to about an appeal? |
| The
first step should be to contact our office, if you are
not satisfied with the results that you receive then
you can appeal the decision to the Board of Equalization.
If you disagree with our calculation on reported assets,
call or e-mail us. |
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What
equipment do I declare? |
| Any
equipment used in the operation of a business. |
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I
have a home business and I use equipment for business
and personal use; is it still considered business equipment? |
| Yes,
it should be reported regardless of the percentage of
use. |
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Are
there any exemptions? |
| There
is $15,000 "Head of Household" exemption from
the reported assessed value for sole proprietors only,
this would affect taxes due in 2008. You must claim this
on your listing every year. We will review your eligibility
and apply the exemption as applicable. |
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Are
extensions available for late filing a listing? |
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Are
there penalties for filing a listing after the due
date? |
| We
add 5% per month (or fraction of a month) to your tax
bill, not to exceed 25% of the total tax. |
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Can
these penalties be waived? |
| If
there are extenuating circumstances, notify us of the
details. |
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What
are considered supplies? |
| Supplies
are items used or consumed in the operation of the business. |
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How
are supplies calculated? |
| Take
the total amount purchased by the business annually and
divide by 12. Enter that amount in block 3 of the listing. |
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When
are my personal property taxes due? |
| The
first half is due by April 30th and the second half by
October 31st. Personal and real property taxes are due
at the same time. |
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How
much are my personal property taxes? |
| Same
as real property, approximately 1.4% of the assessed
value per year. |
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How
much are my personal property delinquent taxes? |
| Contact
the Franklin County Treasurer at (509) 545-3518. |
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