Business Personal Property

During January of each year, businesses and professionals in North Carolina are required by state law to list all business personal property with the Tax Assessor on a listing form approved by the NC Department of Revenue. This property is assessed as of January 1 in the county in which it is located. It is the responsibility of the property owner(s) to report this property to the Tax Office for ad valorem taxation (tax based on value) and to research tax laws in order to take advantage of any Exemptions or Exclusions for which their property may be eligible.

The Business Personal Property Division of the Gaston County Tax Assessors office is responsible for ensuring that all business and professional property is listed and assessed yearly. This type of property includes the following: machinery and equipment, office furniture, fixtures, computer equipment, leasehold improvements, CIP, spare parts, supplies, untagged vehicles, multi-year/permanent tagged trailers, IRP plated vehicles, watercraft, aircraft, mobile homes and office trailers. Information must also be provided on leased property.

Taxpayers who listed their property in the prior year will be mailed a listing form at the end of December in order to make any updates to their records. The listing form should be completed and a detail of the additions and deletions made to the property should be attached and submitted to the Tax Office by the January 31st due date. Taxpayers who are filing for the first time or who do not receive a listing in the mail are responsible for obtaining a Business Listing and Instructions from the Tax Office.

The listing period always begins on the first business day in January and continues through the end of January. If business personal property is not listed by the January 31st due date, a 10% late listing penalty will be assessed.

If your business has closed or sold, NC General Statutes require all taxpayers to give notice to the Tax Collector and Tax Assessor as billing is based on the January 1 owner of the property.