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What is Business Tangible Personal Property?

April 26, 2017Business Property Tangible

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What is Business Tangible Personal Property?

2 Answers

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Virginia State Code Section 58.1-3503(17) defines business personal property as all tangible personal property employed in a trade or a business. Businesses are assessed on, but not limited to, office furniture, fixtures, equipment, machinery and tools, and computer equipment.

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A. All furniture, fixtures, machinery, tools, and programmable computer equipment used in Arlington County businesses is considered tangible personal property. Programmable computer equipment includes all computer and peripheral equipment hardware and all operational software.