Business Property Tax

Filing Note to Business Taxpayers

Businesses located in the City of Martinsville are required to annually file by May 1st an itemized listing of business tangible personal property and/or machinery and tools used in the business. This listing is used to assess the local business personal property tax on business property that you owned or leased on January 1st of the tax year.

Filing forms are mailed to City of Martinsville businesses around mid-February. If you do not receive your filing forms you may download blank forms below or contact the Commissioner of the Revenue Office Business Property Section at 276-403-5129 to request an additional copy:

• 2023 Blank Vehicle Verification Form (PDF)
• City of Martinsville Itemized Listing and Leased Equipment Forms (PDF)

Important Note to Avoid Late Filing Penalties

The itemized listing forms for tangible personal property that you own or lease on January 1, 2023 must be fully completed and submitted with your filing. A computer-generated listing will be accepted provided that the listing contains the information required on the itemized listing sheets that are provided by the Commissioner of the Revenue. Returns submitted without an itemized listing will be considered incomplete and will be returned to you for completion. The required completed vehicle verification return (green sheet) and itemization sheets are due on or before May 1, 2023, to avoid late filing penalties. Postal postmarks (not postage meter) will determine the filing date on mailed returns.

Computer-generated listings or the itemization sheets must contain a detailed listing of all items used in the course of your business that were owned or leased on January 1, 2023. If you have fully depreciated any equipment for federal tax purposes, but continue to use the equipment in your business, then it should continue to be listed on your return for local taxation purposes. The original purchase cost or lease cost, the date of acquisition and, in the case of leased equipment, the name and address of the lessor should be listed. To assure completeness and accuracy, please identify and describe any dispositions of previously acquired property (showing original cost, acquisition date and disposal date.) The current year itemization is compared to the prior year listings and adjustments will be made to prior years, if necessary.

On behalf of the citizens of the City of Martinsville, thank you for choosing the City of Martinsville for your business location! The office of the Commissioner of the Revenue is available to assist you in any way possible. If you have questions regarding the operation of your business in the City of Martinsville or need assistance with filing this return, please do not hesitate to contact the Commissioner of the Revenue office at 276-403-5131.