Personal Property

According to the North Carolina General Statutes, all the property that is not defined or taxes as "real estate" or "real property" is considered to be "personal property".  Business personal property  is taxable whether it is owned, leased, rented, loaned, or otherwise made available to the business.

The completion of a listing is required of all individuals, parnterships, corporations and associations who on January 1 own, control or possess any amount of leasehold improvements or personal property (tangible) used or held for a business purpose.  The question of exempt status does note excuse any of the foregoing from this requirement.

Farmers, carpenters, and mechanics who own tools and equipment used in a trade or business should list.

Apartment complexes should list furnishings (furniture, blinds, drapes, etc.) and/or major appliances (ranges, refrigerators, dishwashers, etc.). Rented furnishings (landlord only) owners of furnished rental untis (house, apartment, condo, mobile home, etc.), should list.

The business personal property listing must be filed on or before January 31 with the Durham County Tax Administration Business Department. Listings can be submitted at Online Business Listing System or by mail. 

Listings submitted by mail shall be deemed to be filed as of the date shown on the postmark affixed by the U.S. Postal Service. If no date is shown on the postmark, or if the postmark is not affixed by the U.S. Postal Service (for instance, your own postage meter) the listing shall be deemed to be filed when received in the Durham County Tax Administration Business Department. All late filed listings will be subject to a ten percent (10%) penalty.

An extension of time to list may be obtained by sending a written request showing "good cause" to the County Assessor by January 31, or by selecting Online Business Listing System. 

Organizations claiming exemption from N.C. personal property tax must file an application for exemption by January 31. Applications for exemption (form AV-10). 

N.C.G.S. 105-278.3 Real and personal property used for religious purposes. 
N.C.G.S. 105-278.4 Real and personal property used for educational purposes. 
N.C.G.S. 105-278.5 Real and personal property of religious educational assemblies used for religious and educational purposes. 
N.C.G.S. 105-278.6 Real and personal property used for charitable purposes. 
N.C.G.S. 105-278.7 Real  and personal property used for educational, scientific, literary or charitable purposes. 
N.C.G.S. 105-278.8 Real and personal property used for charitable hospital purposes.

Most questions pertaining to the Business Personal Listing Form can be answered by using the listing form instructions or by calling the Business Personal Property Section at 919-560-0300. Any of the Business Personal Property Appraisers will be glad to answer any questions you have regarding the Business Personal Property Listing Form or will schedule a convenient time for you to meet with them in the office.

Out of Business Notification Form