Business owners in Buncombe County are receiving their notice of value for tax year 2021 for business personal property over the next several weeks. The Office of the Property Assessor is mailing notices at this time for those businesses who have submitted their listing sheets.
This new process supports our continued effort to better serve business owners by giving them advanced notice of their assessments before tax bills are mailed in August. This is a slightly different procedure than in previous years when the property tax bill would serve as the first notice of value.
It’s important to know that your notice of value is not a bill. Your personal property tax bill will be mailed in mid-August.
Business owners who disagree with their assessment should submit an appeal within thirty days of the notice date. Once the appeal period expires the value will become final.
For convenience a fillable appeal form is available online at buncombecounty.org/businesslisting, and may be submitted via email at email@example.com or by mail to:
- Buncombe County Property Assessor
Attn: Business Listing
155 Hilliard Ave
Asheville, NC 28801
The health and safety of our community and employees is our priority, and due to the ongoing COVID pandemic, assessment staff highly encourages contacting our office via phone or online at this time. Business owners can be assured that any concerns and questions are important and our team of professionals are available virtually for Live Chat on our website, by phone at (828) 250-4930, or email at firstname.lastname@example.org.
Business personal property notice frequently asked questions
What is this notice?
This is a notice of your business personal property value, based on the assets you reported on the 2021 business listing form submitted earlier this year. The business listing includes machinery & equipment, computers, furniture, supplies, and other assets used by your business.
Why am I receiving this notice?
This notice was mailed as a courtesy to provide you the assessed value of your business personal property prior to receiving the bill.
Is this a bill?
No, the bill will be mailed in mid-August.
Do I need to respond?
No action is required on your part unless you choose to appeal the value.
How did you determine the value?
The value is cost less depreciation. Using the value determined by the cost reported on the business listing form, the cost is then applied to the appropriate depreciation schedules supplied by the North Carolina Department of Revenue.
How is the personal property tax bill calculated?
Value X Rate ÷ 100 = Amount Due
Why do you divide by 100?
Rates are applied to $100 in value.
Where can I find a link to tax rates?
Current tax rates are located here. The Board of Commissioners will set the 2021 tax rate in June.
Do I need to report this value to the IRS?
Please reach out to your CPA.
Where can I find my tax bill from the prior year?
You can find tax bills here.