If you have received a letter from Buncombe County Property Assessment with a Rental Property Listing Form here’s what you need to know.
Why am I receiving this?
January is the listing period for 2025. The Buncombe County Property Assessor is contacting property owners who may have unlisted business personal property to make sure that we have the most accurate data on all Buncombe County properties.
Rental Listing FAQs
What is Business Personal Property in long- and short-term rental units?
All property used in connection with the operation and production of income which has not been classified as real property.
Long- and short-term rental units and homestays are considered temporary or seasonal dwellings. Examples of tangible business personal property in long-and short-term rental units include, but are not limited to, a refrigerator, range, sofas, beds, chairs, tables, televisions, dishes, silverware, linens, etc.
My rental property was destroyed or damaged by Hurricane Helene. How do I notify the County?
If your rental property was destroyed by Hurricane Helene, please indicate this on the listing form. If your property is no longer a rental property as of January 1, 2025, please indicate this on the listing form.
For any questions regarding your rental property listing and Hurricane Helene destruction or damage, please email our office at rentallisting@buncombecounty.org or call us at 828-250-4930.
Who should list?
Any individual or business owning or possessing personal property used with a business or other income-producing purpose on January 1.
When is the rental listing form for long-and short-term rental units due?
The listing form must be complete and submitted by January 31.
How do I get a listing form and instructions?
Click here: https://www.buncombecounty.org/common/tax/rental-business-listing-form.pdf
I do not have any changes from last year, do I still have to list?
Yes, it is required by NC General Statutes that you file a complete listing form each year during the month of January. Listings are due by January 31.
Do I have to list assets I purchased as used or any personal items that I use in my short or long-term rental?
Yes, you must list all assets used in the business.
All items used in a business activity, including a home-based business, must be listed. This includes items you were or are still using personally.
What do I do if my property has been sold or is no longer a short or long-term rental?
If your property has been sold or is no longer a short or long-term rental, you may email the Tax Office at rentallisting@buncombecounty.org and provide the date operations ceased. Please include the abstract number, property address and owner name.
My rental was sold/no longer a rental property as of March. I have received a tax bill for this year. How much am I responsible for?
Bills are based on rental listings as of January 1st. You are responsible for the taxes for that year. If your property has been sold or is no longer a short or long-term rental, you may email the Tax Office at rentallisting@buncombecounty.org and provide the date operations ceased. Please include the abstract number, property address and owner name.
I received a Notice of Value. Is this a bill?
A Notice of Value is not a bill. It is a courtesy letter providing the value of the business personal property reported on your annual listing form. That value is used in conjunction with the tax rate to calculate the property tax bill we mail in August.
Why is there a late list penalty on my bill?
The annual Listing period is January 1 – January 31. Per NCGS§ 105-312, any property not listed during the regular listing period is subject to a penalty of ten percent of the bill amount for each listing period missed.
What does “Notice of Discovered Value” mean?
The annual Listing period is January 1 – January 31. Failure to return the form could result in an estimated value of 5% of the real estate market value for the property. The estimated value is a “discovered” value because it was not reported to our office and is therefore subject to a ten percent penalty for each listing period missed. If you have received a Notice of Discovered Value for your rental, you have 30 days from the date on the letter to appeal the value by submitting a listing form so that our office can determine the accurate taxable value.
Why did I get a “Rental Property Listing Form”?
The mailing address for your property and the location of the property are different, or you have multiple residences on your parcel. Please verify if this is a rental property.
Is this a new tax?
No, it is not a new tax. Per North Carolina General Statute §105-274(a), all property is taxable unless exempt by statute or exemption. The form is a new tool for the Tax Assessment Office to communicate with residents that have rental property.
What property do I need to list on the form?
Any property that is provided to tenants/guests for long-term or short-term rentals. Examples include but are not limited to, refrigerator, range, sofa, beds, chairs, tables, television, dishes, silverware, linens, etc.
I live in my home, and I occasionally rent out my property for short term rental. Do I still have to list my assets?
Yes. A host is required to pay BPP taxes if they engaged in any rental activity during a calendar year. There is no proration of BPP taxes. Also, unlike the occupancy tax, there is no exception that relieves a host from having to pay BPP taxes when a property is rented fewer than 14 days-per-year.
This home is not a rental property. What do I need to do with the form?
Please indicate in writing on the form that the property referenced is not rental property, sign the form, and email it to rentallisting@buncombecounty.org. Completed forms may also be mailed to Buncombe County Assessor’s Office,155 Hilliard Avenue Asheville, NC 28801.
What happens next?
After the Property Assessment office receives your listing form, staff will determine the assessed value and mail that back to you. Property owners have 30 days from that mailing to appeal that value.
Still have questions?
Contact the Buncombe County Business Personal Property Department.
rentallisting@buncombecounty.org
828-250-4930