If you have received a letter from Buncombe County Property Assessment with a Rental Property Listing or Business Personal Property Listing form, here’s what you need to know.
Why am I receiving this?
January is the listing period for 2025. The Buncombe County Property Assessor is contacting property owners who may have unlisted business personal property to make sure that we have the most accurate data on all Buncombe County properties.
Rental Listing FAQs
What is Business Personal Property in long- and short-term rental units?
All property used in connection with the operation and production of income which has not been classified as real property.
Long- and short-term rental units and homestays are considered temporary or seasonal dwellings. Examples of tangible business personal property in long-and short-term rental units include, but are not limited to, a refrigerator, range, sofas, beds, chairs, tables, televisions, dishes, silverware, linens, etc.
My rental property was destroyed or damaged by Hurricane Helene. How do I notify the County?
If your rental property was destroyed by Hurricane Helene, please indicate this on the listing form. If your property is no longer a rental property as of January 1, 2025, please indicate this on the listing form.
For any questions regarding your rental property listing and Hurricane Helene destruction or damage, please email our office at rentallisting@buncombecounty.org or call us at 828-250-4930.
Who should list?
Any individual or business owning or possessing personal property used with a business or other income-producing purpose on January 1.
When is the rental listing form for long-and short-term rental units due?
The listing form must be complete and submitted by January 31.
How do I get a listing form and instructions?
Click here: https://www.buncombecounty.org/common/tax/rental-business-listing-form.pdf
I do not have any changes from last year, do I still have to list?
Yes, it is required by NC General Statutes that you file a complete listing form each year during the month of January. Listings are due by January 31.
Do I have to list assets I purchased as used or any personal items that I use in my short or long-term rental?
Yes, you must list all assets used in the business.
All items used in a business activity, including a home-based business, must be listed. This includes items you were or are still using personally.
What do I do if my property has been sold or is no longer a short or long-term rental?
If your property has been sold or is no longer a short or long-term rental, you may email the Tax Office at rentallisting@buncombecounty.org and provide the date operations ceased. Please include the abstract number, property address and owner name.
My rental was sold/no longer a rental property as of March. I have received a tax bill for this year. How much am I responsible for?
Bills are based on rental listings as of January 1st. You are responsible for the taxes for that year. If your property has been sold or is no longer a short or long-term rental, you may email the Tax Office at rentallisting@buncombecounty.org and provide the date operations ceased. Please include the abstract number, property address and owner name.
I received a Notice of Value. Is this a bill?
A Notice of Value is not a bill. It is a courtesy letter providing the value of the business personal property reported on your annual listing form. That value is used in conjunction with the tax rate to calculate the property tax bill we mail in August.
Why is there a late list penalty on my bill?
The annual Listing period is January 1 – January 31. Per NCGS§ 105-312, any property not listed during the regular listing period is subject to a penalty of ten percent of the bill amount for each listing period missed.
What does “Notice of Discovered Value” mean?
The annual Listing period is January 1 – January 31. Failure to return the form could result in an estimated value of 5% of the real estate market value for the property. The estimated value is a “discovered” value because it was not reported to our office and is therefore subject to a ten percent penalty for each listing period missed. If you have received a Notice of Discovered Value for your rental, you have 30 days from the date on the letter to appeal the value by submitting a listing form so that our office can determine the accurate taxable value.
Why did I get a “Rental Property Listing Form”?
The mailing address for your property and the location of the property are different, or you have multiple residences on your parcel. Please verify if this is a rental property.
Is this a new tax?
No, it is not a new tax. Per North Carolina General Statute §105-274(a), all property is taxable unless exempt by statute or exemption. The form is a new tool for the Tax Assessment Office to communicate with residents that have rental property.
What property do I need to list on the form?
Any property that is provided to tenants/guests for long-term or short-term rentals. Examples include but are not limited to, refrigerator, range, sofa, beds, chairs, tables, television, dishes, silverware, linens, etc.
I live in my home, and I occasionally rent out my property for short term rental. Do I still have to list my assets?
Yes. A host is required to pay BPP taxes if they engaged in any rental activity during a calendar year. There is no proration of BPP taxes. Also, unlike the occupancy tax, there is no exception that relieves a host from having to pay BPP taxes when a property is rented fewer than 14 days-per-year.
This home is not a rental property. What do I need to do with the form?
Please indicate in writing on the form that the property referenced is not rental property, sign the form, and email it to rentallisting@buncombecounty.org. Completed forms may also be mailed to Buncombe County Assessor’s Office,155 Hilliard Avenue Asheville, NC 28801.
Business Personal Property Listing Form Questions
What is Business Personal Property? All property used in connection with the operation and production of income which has not been classified as real property. Business Personal Property consists of items that are used while conducting business. It includes the following: machinery and equipment, office furniture, fixtures, computer equipment, leasehold improvements, construction in progress (CIP), spare parts, supplies, untagged vehicles, multi-year / permanent tagged trailers, IRP plated vehicles, watercraft, aircraft, mobile homes, and office trailers. Information on leased property must also be provided.
My business was destroyed or damaged by Hurricane Helene. How do I notify the County? If your business was destroyed by Hurricane Helene, please indicate this on the form. If your business is permanently closed, please fill out the “If Business Closed or Sold” section on page two of the listing form.
If your business was damaged by Hurricane Helene, please remove assets that have disposed assets from the return. Assets should be removed from the original year of acquisition at their original reported cost.
For any questions regarding your business listing and Hurricane Helene destruction or damage, please email our office at businesslisting@buncombecounty.org or call us at 828-250-4930.
Who should list? Any individual or business owning or possessing personal property used with a business or other income-producing purpose on January 1.
When is the business personal property listing due? The listing form must be completed by January 31 unless you have been granted an extension.
How do I file for an extension? Extensions of time to list may be granted until March 15th upon an online request to the Tax Department during the January listing period—these requests must be submitted no later than January 31. You may request an extension online at https://businessextensions.buncombecounty.org/. New businesses may request an extension by emailing businesslisting@buncombecounty.org.
How should each asset be reported? Historical Cost: The cost of the asset when originally purchased new. The net book value should not be used to report business personal property. Original purchase cost with no depreciation deducted should be reported. The County will depreciate these original cost amounts based on the year acquired and the current Cost Index & Depreciation Schedules provided by the NC Department of Revenue to arrive at the proper assessed value.
Original Year Acquired: The year that the asset was purchased new.
How do I get a listing form and instructions? Visit https://www.buncombecounty.org/common/tax/Business-Listing-Form.pdf
I need to know what was listed last year. How can I obtain this information? Please email businesslisting@buncombecounty.org for assistance.
I do not have any changes from last year, do I still have to list? Yes, it is required by NC General Statutes that you file a complete listing form each year during the month of January.
Do I have to list assets I purchased as used or any personal items that I use in my business? Yes, you must list all assets used in the business. If available, the original cost and purchase date by the original owner should be used when listing used assets. If not, list in the year acquired for the cost that you paid.
All items used in a business activity, including a home-based business, must be listed. This includes items you were or are still using personally.
What do I do if my business has closed or been sold? If your business has closed or been sold, please fill out the “IF OUT OF BUSINESS” section of your Business Personal Property Listing form. Sign, date and email the form to the tax assessor at businesslisting@buncombecounty.org to notify us of the sale or closure. (Add Link to Form, will this be link to the State Form or link to State Form on Buncombe Website?)
My business closed in March. I have received a tax bill for this year. How much am I responsible for? Bills are based on business listings as of January 1st. You are responsible for the taxes for that year. When you receive a listing form the following January, you will need to fill out the section labeled "IF OUT OF BUSINESS", sign, date and return the form to the tax assessor by email at businesslisting@buncombecounty.org to notify us of the sale or closure.
My assets are fully depreciated for income tax purposes (zero book value). Do I still have to list them? Yes, you must list all business personal property as long as you own and use it in the operation of your business.
How should I fill out the supplies section of the listing form? In this section, list the cost of the supplies that you have on hand on January 1. This includes such items as: office, maintenance, janitorial, medical, dental and professional supplies; beauty and barber supplies; fuel; and hotel/motel supplies. If you are not sure of the supplies on hand January 1, the NC Department of Revenue recommends that you report 1/12 of the total supplies you purchased during the year. Equipment spare parts may also be listed in the supplies section of the return.
I received a Notice of Value. Is this a bill? A Notice of Value is not a bill. It is a courtesy letter providing the value of the business personal property reported on your annual listing form. That value is used in conjunction with the tax rate to calculate the property tax bill we mail in August.
How did you determine the value of my assets? The Buncombe County Assessor’s Office uses the Cost Index and Depreciation Schedules (https://files.nc.gov/ncdor/documents/files/2021-Cost-Index-FINAL_0.pdf) recommended by the North Carolina Department of Revenue to determine the depreciated value of the business personal property reported on your listing form. This Cost Approach uses trend factors, depreciation percentages, and the age of the asset(s) to determine the value for the current year. Some costs, such as Supplies and Construction in Progress, are not depreciated.
Why is there a late list penalty on my bill? The annual Listing period is January 1 – January 31. Per NCGS§ 105-312, any property not listed during the regular listing period is subject to a penalty of ten percent of the bill amount for each listing period missed.
A taxpayer may request a listing extension prior to the January 31 listing deadline by visiting https://businessextensions.buncombecounty.org/. The extended listing deadline is March 15 with an approved request. New businesses may request an extension by emailing businesslisting@buncombecounty.org.
What does “Notice of Discovered Value” mean? The annual Listing period is January 1 – January 31. When a listing form is not submitted, the Assessor’s Office estimates the value for your business based on costs reported in the past, or on similar businesses. The estimated value is a “discovered” value because it was not reported to our office and is therefore subject to a ten percent penalty for each listing period missed. If you have received a Notice of Discovered Value for your business, you have 30 days from the date on the letter to appeal the value by submitting a listing form so that our office can determine the accurate taxable value.
I need an additional copy of the Business Listing Form. Can you provide me with one? Please contact the Business Personal Property department via telephone at (828)250-4930 or via email at businesslisting@buncombecounty.org to request an additional copy of the Business Listing Form. Blank forms can be found on our website at https://www.buncombecounty.org/common/tax/Business-Listing-Form.pdf
I no longer own this business. What steps do I need to take to notify the Assessor’s Office? Please complete the appropriate section on the Business Listing Form entitled “IF BUSINESS IS CLOSED OR SOLD, COMPLETE THIS SECTION”. Once the form is completed, please submit it to the Assessor’s Office via email to businesslisting@buncombecounty.org. Forms may also be mailed to 155 Hilliard Avenue Asheville, NC 28801. If you need an additional copy of the form, please email the request to businesslisting@buncombecounty.org or contact the Business Personal Property department via telephone at (828) 250-4930.
What is CIP? CIP stands for Construction in Progress. It is business personal property located in Buncombe County on January 1 which is under construction or has been acquired but not yet installed or operational.
If equipment is expensed rather than capitalized, does it have to be listed? Yes. It should be listed as an asset purchase just as if it has been capitalized. Expensed assets may be reported in the Expensed section of the listing.
What happens next?
After the Property Assessment office receives your listing form, staff will determine the assessed value and mail that back to you. Property owners have 30 days from that mailing to appeal that value.
Still have questions?
Contact the Buncombe County Business Personal Property Department.
rentallisting@buncombecounty.org
828-250-4930
Personal Property Listing Questions
If you have received a letter from Buncombe County Property Assessment with a Personal Property Listing form, here’s what you need to know.
Why am I receiving this?
January is the listing period for 2025. The Buncombe County Property Assessor is contacting property owners who listed personal property in 2024 to make sure that we have the most accurate data on all Buncombe County properties.
What type of property should I list?
Personal property includes unlicensed motor vehicles, boats, campers, permanently tagged trailers, single and double-wide manufactured homes not on a permanent foundation and airplanes. Anyone who owns any of these must list them with the tax department during the month of January each year. (Manufactured homes located on land owned by the owner of the mobile home will be considered real property.) If a property tax listing form is not received in the mail, please call the tax department to request one at (828) 250-4920.
Please note: A 10% percent late list penalty will be charged for failure to list the required property with the tax department before the end of January.
My property was damaged or destroyed due to Hurricane Helene. How do I notify the County?
If any of the property listed on your listing sheet was damaged or destroyed due to the hurricane, please indicate the information on the listing sheet. If you have any questions, please email our office at personalproperty@buncombecounty.org. or call (828) 250-4920.
I do not have any changes from last year, do I still have to list?
Yes, it is required by NC General Statutes that you file a complete listing form each year during the month of January. Listings are due by January 31.
How can I request a listing form?
You can download a personal property listing form at https://www.buncombecounty.org/common/tax/personal-property-listing-form.pdf or call (828) 250-4920.
My vehicle was damaged by Hurricane Helen, how do I notify the County?
If your vehicle was damaged and you have received your combined vehicle tax and registration invitation, please contact our office at (828) 250-4920 or email personalproperty@buncombecounty.org.
If your vehicle was destroyed and you have received your combined vehicle tax and registration invitation, you may disregard the notice. You are not responsible for the property tax on a vehicle you no longer own.
Still have questions?
Contact the Buncombe County Personal Property Division.
(828) 250-4920
personalproperty@buncombecounty.org