Personal Property Categories

Personal Property Categories
Stafford County has six (6) different classifications of property on the Personal Property book. The classifications are as follows:

1. TANGIBLE PERSONAL PROPERTY – This class of property is prorated for taxation. In this classification passenger cars, pickup trucks, panel trucks and motorcycles are assessed at 40% of the N.A.D.A. average retail.

Trailers, recreational vehicles and most trucks over 10,000 pounds gross weight (except those qualifying as common carriers) are assessed at a percentage of original cost using the following depreciation schedule:
1st year - 40%
2nd year - 35%
3rd year - 30%
4th year - 25%
5th year – 20%
6th year and all subsequent years - 15%

2. BUSINESS PROPERTY is all equipment, furniture, fixtures, etc. used in a business. Business Property is assessed at a percentage of original cost using the following depreciation schedule:
1st year - 35%
2nd year - 30%
3rd year - 25%
4th year - 20%
5th year and all subsequent years - 15%

3. MACHINERY & TOOLS is equipment used in manufacturing, mining, processing or reprocessing, radio or television broadcasting, cable television, dairy, dry cleaning or laundry business, and trucks used for hire that qualify as common carriers. Machinery & Tools are assessed at a percentage of original cost using the following depreciation schedule:

1st year - 90%
2nd year - 80%
3rd year - 65%
4th year - 50%
5th year - 35%
6th year and all subsequent years - 20%

4. MERCHANTS CAPITAL is inventory of stock on hand and is assessed at 100% of cost.

5. MOBILE HOMES are assessed at 100% of market value based on the pricing guides from N.A.D.A. and Marshall Swift & Co.

6. AIRCRAFT are assessed at 40% of the Aircraft Bluebook Price Guide average retail value.