This news item expired on Tuesday, February 6, 2024 so the information below could be outdated or incorrect.
If you have received a letter from Buncombe County Property Assessment with a Rental Property Listing Form here’s what you need to know.
Why am I receiving this?
January is the listing period for 2024. 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.
I don’t rent this property what should I do?
Please mark the form indicating primary use of the property and send it back so we can update our files.
Who files a listing and what do I list?
Any individual or business in North Carolina owning or possessing personal property used or connected with a business or other income producing property on Jan. 1, must list the property for taxation. Examples include, but are not limited to:
1. Income producing personal property
2. Household Rental Property (homes you rent to others that you the landlord furnishes)
I own rental property that I furnish. What should I do?
If you own property that is used for long- or short-term rentals, you must list the personal property you provide as part of that rental. Business personal property includes anything the renter would use, such as furniture, appliances (oven/stove, washer, dryer, refrigerator), silverware, towels, bedding, etc. The cost, date of purchase and description of the items should be entered on the list sheet.
What if I purchased the property furnished and I don’t have the year purchased or purchase price?
If the personal property was included with the purchase of the real property, please enter a description of the property and your best opinion of market value. Our office can work with property owners to develop estimations.
Why is this the first time I am receiving this form?
Our office is committed to improving the data we have on personal property assets to ensure that all accommodation providers are taxed fairly. It is the taxpayer’s responsibility to list property for taxation and our office would like to make sure property owners have all of the information needed to complete the forms correctly.
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.