Business Tangible Personal Property (BTPP) Tax  

The City’s Business Tangible Personal Property Tax is managed by the Department of Finance’s Business Unit. The Business Tangible Personal Property Tax is based on the value of property and is commonly referred to as an ad valorem tax.  

New RVA Business Portal for Business Tangible Personal Property Tax

In January 2025 the City of Richmond Department of Finance launched a new RVA Business Portal for the 2025 filing period. The new City portal provides a single access point for immediate filing and invoice generation for Business Personal Property and Business, Professional, and Occupational Licenses and have been developed to simplify, ease, and replace the previously manual filing process for our business community. 

Business Tangible Personal Property Tax Forms  

• Penalty and Interest Waiver Online Application Form – Use this online form to request a waiver of penalty and interest for this tax type

Need a Return of Business Tangible Personal Property form for a prior tax year? Please see our Finance Forms Page and click the Prior Years tab.  

Business Tangible Personal Property Tax Rate, Dates, Penalty, and Interest 

• Rate: $3.70 per every $100 of value for furniture & fixtures and computer equipment 
• Dates:  
  • March 1 Business Tangible Personal Property filing due 
  • June 5 Business Tangible Personal Property Tax due 
• Penalty: 10 percent or $10.00, whichever is greater, upon the failure to file an application or the failure to pay the tax by the appropriate due date 
• Interest: 10 percent annually when not paid by the due date which begins calculating the first of the following month 

Business Tangible Personal Property Tax Governing Legislation* 

For detailed legislative information on Business Tangible Personal Property Tax, please refer to the following: 

• Code of Richmond: Division 6. - Tangible Personal Property Taxes and Machinery and Tools 
• Code of Virginia: Article 1. Tangible Personal Property Tax 

* Please note, this list may not be exhaustive of all sections of governing code 

General Business Tangible Personal Property Tax Frequently Asked Questions (FAQs) 

What is considered Business Tangible Personal Property? 
Personal property, i.e., furniture, fixtures, and equipment, that is used or employed in a trade or business, including computer equipment. This does not include vehicles used in the business, as these are separately assessed. Personal property used in a manufacturing business is a separate class of personal property that is subject to Machinery and Tools Taxes. 

How is the Business Tangible Personal Property Tax assessed? 
The Business Tangible Personal Property Tax is self-assessed by the owner of the property based on the original cost of the property, the year it was acquired and the type of property. There are two types of business personal property:  

• Furniture, Fixtures, and Equipment  
• Programmable Computer Equipment 

Below are the tables for the assessment ratios for each of these classes of Business Tangible Personal Property: 

Assessment Ratios for Furniture, Fixtures, and Equipment 

 
Assessment Ratios for Programable Computer Equipment 

What if I do not receive either the business tangible personal property return or bill from the City?  
Both Virginia and City codes place the responsibility for obtaining the necessary information to file and remit taxes by the due date(s) on the taxpayer without being called upon to do so by the local tax official. Our responsibility is to notify taxpayers, in a paper of general circulation, of the tax due dates and issue tax bills not less than fourteen days prior to the due date. The Department of Finance advertises the tax due dates in several local newspapers, as well as on our City web site and issues tax bills to the address of record in our system forty five days before the due date. 

Can I appeal a Business Tangible Personal Property Tax assessment? 
An administrative appeal may be filed in writing concerning the Business Tangible Personal Property Tax assessment with the Director of Finance of the City of Richmond at the following address:  

Director of Finance  
Attn: Business Tangible Personal Property Appeal  
900 E. Broad Street, Suite 1003  
Richmond, VA 23219  

Upon receipt of a final local determination issued by the Director, you may file an appeal with the Tax Commissioner of the Virginia Department of Taxation. For more information on this process, please click here.  

A judicial appeal may be filed with the Richmond Circuit Court at the following address:  

Richmond Circuit Court  
Attn: Business Tangible Personal Property Appeal  
400 N. Ninth Street  
Richmond, VA 23219 

Tax Filing Business Tangible Personal Property Frequently Asked Questions (FAQs)

How do I make a correction to my filing form after I have certified and signed?
No changes can be made after certification of your filing.  The city will review your filing for compliance and use your registered portal email for any corrections be required.  Should you need to make an update to your filing form after certification, please place a 311 ticket for assistance.

What if I do not own tangible personal property for my business?
You must still file a return. Enter "NONE" in Sections 1 and 2 and provide an explanation of how your business operates without tangible personal property.

When is the deadline to report property?
The return must be filed by March 1, 2025, for property owned, leased, rented, or borrowed before January 1, 2025, that is still in use as of January 1, 2025.

What happens if the return is filed late?
A penalty will be assessed on all late returns, and interest at will apply to late payments made after June 5, 2025.

What should I do if there is a difference between the cost figures in this years and last year’s returns?
Provide an explanation for any discrepancies between the reported figures from last year’s filing.

What if a section does not apply to my business?
Enter "NONE" in all not applicable sections for complete filing.

Business Portal Assistance Frequently Asked Questions (FAQs)

What can I expect from the new RVA Business Portal?
The business portal provides an online link for you to prepare, review, file, and pay your Business Tangible Personal Property and Business License Renewal forms. You will be able to work on your online filings over time and save your work for later edits, submission, and payment.  Future phases will expand capability.

Can I manually file my Business Personal Property (BPP) and Business License (BPOL) renewal forms with the City?
There are no paper forms for manual filing.  The 25’ filing forms and payment invoices are located in the RVA Business Portal.  Prior year forms are not accepted for 25’ filings.  Should you need assistance with portal registration of your business account, filing, or any other needs, our staff are available both in person or by virtual appointment to assist you.

What do I need to register my business account in the portal so I can complete my tax filings?
Registration requires your email address, your EIN Number and your City business account ID.  A letter containing your business account information will be mailed and emailed to the address of record with the city in early January should need a reminder of these items.  Additionally, prior year filed documents from your records would also contain this information.

Where do I find the submission form link for my Business Personal Property Tax filing and Business License renewal due March 1st?
Use this link to register.

How do I request assistance with my filing form and/or account information?
A web link is provided to assist you in-person and virtually by calendar appointment at City of Richmond Department of Finance - Revenue Administration.  Additional options include our RVA 311 ticket inquiry link of About RVA 311 | Richmond or call center at 804-646-7000, or in-person at the Revenue Administration Business Unit service counter located at City Hall, 900 E. Broad Street.  Additional pop-up cafés will be scheduled leading up to March 1st so follow announcements on our web page.

What happens if I don’t pay the tax due by the due date (Business Personal Property Tax due June 5th; Business License Tax due March 1st)?
A penalty will be incurred of $10 or 10%, whichever is greater, and interest will begin to accumulate.

How will I receive my tax invoice and receipt for payment?
After filing form completion, you can generate your invoice for payment when you are ready.  After portal payment, a pop-up prompt will appear to print your receipt.

Do I have to pay my bill at the same time of filing?
Business License payment is due by March 1st and Business Tangible Personal Property payment is due by June 5th. Payments can be made at any time after filing certification but is not required at the same time of filing.  No license will be issued until all city taxes are paid in full and all required filings have been made current.
 

If you have a question, comment, or concern regarding City of Richmond Business Tangible Personal Property Tax, please contact RVA 311 at (804) 646-7000 or click here to submit a ticket.