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How to report personal property

Learn about reporting personal property for tax assessment.

The county where your business is located does your personal property assessment. Where you live isn't relevant unless it's also the location of the business.

How it works

We send personal property forms for existing accounts at the beginning of each year. They must be returned by April 30. We don't grant filing extensions and apply a tax penalty of 5% per month to listings received after the deadline, up to 25% of the amount due. The assessor may waive the penalty if the late filing is due to reasonable cause.

The listing form includes instructions for completion. Have questions about how or what to report? Call the number on the first page of the document.

Download the personal property listing form (249KB) if you haven't filed before. You can also request the form by phone or email.

You can file online with eListing.

You don't need to sign the form but include the preparer's contact information.

Watch an overview of personal property tax.

We'll use the information you provide to calculate an assessed value. It's reflected on the valuation notice that we'll send to you.

To determine personal property taxes, we multiply this value by the levy rate for your business's location. The valuation notice also provides information about appealing the valuation.

Around mid-February of the following year, you should receive a tax bill from the King County Finance Division. It shows the assessed value from the Personal Property Valuation Notice and the amount of taxes due.

When you start a new business

Submit a completed listing on January 1 in the year following the one in which you formed your business.

Example: You started your business on June 10, 2021. You'd file a listing in 2022 listing those assets you used as of January 1, 2022.

Contact us when you start your business to set up an account. We'll ensure you get the form in enough time to complete and return it by the April 30 due date.

Don't have a personal property account yet? Complete the new business setup form (206KB).

What to report

List the total purchase cost of your personal property assets, excluding sales tax. The total cost includes all expenses involved in making the property operational. Examples include installation, freight, and engineering charges. Include the value of trade-ins.

Include personal property used in your business on January 1 of the year in which you report. For example, if you had $20,000 of business assets on January 1, 2020, you'd report them on the 2020 listing form. Any items obtained in 2020 after January 1 would be reported on the 2021 listing if still in use on January 1, 2022.

Report leasehold improvements as personal property if you're the tenant and made them.

Also, report improvements if you're the landlord and made them for a tenant.

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