Personal property’s primary characteristic is its mobility. It includes most machinery, equipment, furniture and fixtures associated with commercial, industrial or agricultural enterprises. Business inventories are exempt from property tax. However, supplies consumed in the operation of a business are taxable. The assessor uses the Business Personal Property Listing report to value property for taxes due the following year. Personal property tax rates are the same as for real property.
Everyone who uses personal property in a business must complete a personal property listing every year and submit it to the Assessor’s Office by April 30. When completing the form you must:
Return listings to the Whatcom County Assessor’s Office.
As a property owner, you are responsible for filing a personal property listing each year that you have taxable property even if you do not receive the form by mail. If you have multiple business locations, you must complete a separate listing for each location. The assessed value is allocated to the taxing district based on where the property is located.
Unless specifically exempt, all tangible personal property is subject to personal property tax. The major categories of taxable personal property include the following: