Forms

Appeals Process        Business Depreciation 2019

  • Do I have to return my Form 762?

    The Return of Tangible Personal Property form (762) will no longer be mailed to individual taxpayers.  If you have any changes in your personal property effective January 1 of the tax year, please notify the Commissioner’s office at 540/459-6170. All changes must be reported by February 1 of the tax year.

    Does Shenandoah County prorate taxes?

    Shenandoah County is a non-prorating locality. Taxation is based on what is owned January 1 of the tax year and will be taxed for the entire year.

    Do I have to show high mileage?

    Yes. If you wish to qualify, you must report high miles with the most recent dated proof (such as inspection slip, oil change. Proof must include the vehicle description and mileage and must be filed annually by February 1 of the tax year. Photos of the odometer are not acceptable proof.

    I have a new vehicle with 30-day tags, do I need to add it to the Form 762?

    Yes. Contact the Commissioner’s office and provide the year, make, date acquired and the vehicle identification number (VIN).

    I lease a vehicle, do I contact the Commissioner Of The Revenue?

    Yes. Contact the Commissioner’s office and provide the year, make, date acquired and the vehicle identification. You also need to identify if this vehicle is for personal or business use.

    I own a boat and it is stored in another locality outside of Shenandoah County, do I contact the Commissioner Of The Revenue?

    Yes, Report the boat to the Commissioner of the Revenue office where it is docked. Then notify Game and Inland Fisheries (1-804-367-6135) to ensure the boat is registered in the correct locality.

    If I live in the Town limits, who will I receive a bill from?

    If you live in a town, you will be billed for both town and county taxes. The town will bill for your vehicle license fee.

    Does Shenandoah County prorate taxes?

    Shenandoah County is a non-prorating locality. Taxation is based on property ownership as of January 1 of the tax year.

    Do I need to provide a physical address if different from the mailing address?

    Yes, so you will be taxed by the correct localities and the license fee assessed by the correct authority.

    Do I need to file Form 762A?

    Yes, all Form 762As must be returned.

    Is the Place of Residence box at the top left important?

    Yes, must indicate Town or County to assure you are assessed and billed by the correct localities.

    Is it important to include the cost [for the airplane(s), apportioned vehicle(s)] and width/length for the mobile home(s)?

    Yes, it is important to include the cost for airplanes and apportioned vehicles. The value is assessed by the COR based on the depreciated cost. Mobile home values are calculated based on the width and length.

    If I live in the town limits, will I also receive a bill from the County?

    You will be responsible for both.

    Do I need to file Form 762B or 762C?

    Yes, all Form 762B and Cs must be filed along with a complete list of equipment (include date acquired, description, and cost) by February 1 of the year.

    If my business recently opened, do I need to contact the Commissioner of the Revenue office?

    Yes, provide date opened, along with list of equipment (include date acquired, description, and cost).

    Does Shenandoah County prorate taxes?

    Shenandoah County is non-prorating. Taxation is based on equipment owned as of January 1.

    If my business has closed, do I need to notify the Commissioner of the Revenue?

    Yes, return Form 762B or 762C by February 1 and provide date closed.

    Do I still need to file my Form 762B or 762C even if I missed the February 1 filing deadline?

    Yes, to avoid an erroneous billing.

    Do I need to provide a physical address if different from the mailing address?

    Yes, so you will be taxed by the correct localities and the license fee assessed by the correct authority.

    Is the Place of Residence box at the top left important?

    Yes, must indicate Town or County to assure you are assessed and billed by the correct localities.

    What is inventory/stock on hand?

    It is merchandise on hand January 1 of the tax year which is available for sale. Inventory is reported at the wholesale value. Inventory is filed on your Form 1040 (IRS) Schedule C Profit and Loss from Business. The line number is 41 “Inventory at the end of year”.

    Is it important to include the location of inventory if located at an emporium, flea market, and/or consignment shop?

    Yes. Include for each location (if more than one). Check with your business owner to determine who is responsible for filing business equipment and inventory with the Commissioner of the Revenue office.

    I lease equipment, do I need to put it on my Form 762B or 762C?

    Yes, include the business name, address, telephone number, type of equipment, lease date, and cost.

    Do I file equipment for my business if it is fully depreciated on my IRS return?

    Yes, if the equipment is still in use by the business. Even if the equipment is fully depreciated and off the IRS return, the description, cost, and acquired date needs to be filed on Form 762B and/or 762C.

    If I live in the town limits, will I also receive a bill from the County?

    You will be responsible for both.