PERSONAL PROPERTY
TAXES
Personal
property pertains to commercial, industrial, or agricultural
enterprises, as well as mobile homes. Personal property's
primary characteristic is "mobility." Examples
include but are not limited to machinery, furniture, fixtures,
and equipment.
Every
business must complete a personal property inventory affidavit
by April 30 each year. This affidavit must be filed with
the Island County Assessor's office for taxes due the following
year. These taxes are based on assessment value as of
January 1 of the previous year.
First
half taxes are due by April 30. If payment is late, the
total amount of the tax becomes delinquent and the interest
and penalty owed is calculated on the entire amount due for
the year.
(RCW
84.60.040)
Second
half taxes become delinquent after October 31. A postmark
is accepted as payment date.
Please
note: If the total tax for the year is LESS THAN $50,
the entire amount must be paid by April 30.
Checks
accepted are subject to collection. Non-payment by bank
for any reason voids payment and will result in a returned check
charge of $25.00.
Interest
on delinquent tax is computed monthly from the date of delinquency
to the date of payment at the rate of 1% per month or 12% per
annum as prescribed by law.
A
3% penalty is assessed on taxes owed and delinquent
on June 1 in the year in which the tax is due. An additional
8% penalty is assessed on the total amount of delinquent
tax on December 1 of the year in which the tax is due as prescribed
by law.
When
paying any delinquent tax after the due date (calculation date),
contact the Treasurer's office (360-679-7302) for the correct
interest and penalty due. Note: Delinquent
payments received that are not for the correct amount will be
returned.
ADVANCE
PERSONAL PROPERTY TAX
RCW
84.56.090
When
personal property is sold, dissipated, or liquidated, the
County Treasurer is required to collect the following year's
tax, which is paid in advance at the time of the sale.
Personal
property taxes are a lien upon all Real and Personal property
of the person assessed from the date of assessment until paid.
If it is not paid by April 30th of each year, the personal property
becomes subject to distraint and sale as provided by State statute.
