To verify that all taxable property is reported, compare the total reported costs with those shown in the general ledger or balance sheet of the business. There is no tax due if the value of your personal property is.Tangible personal property tax exemptions for small businesses is a highly economical way of reducing taxpayer compliance burdens. All personal property used for the business should be listed completely and accurately. The cost and year of acquisition should be listed on the declaration. All businesses need to file an annual confidential Business Personal Property Return with their local assessor. Personal property in Washington is subject to property tax just like real property. Are exempt from the TPP tax. List of mailing addresses. File this return with the PVA in the county of taxable situs.
