High Point furniture exhibitors protest new tax assessments
Furniture Today Staff -- Furniture Today, March 8, 2013
HIGH POINT — At least eight furniture-related companies here are protesting tax assessments they say aren't accurate and threaten High Point Market exhibitors, the Greensboro, N.C., News & Record reported today.
The dispute involves the business personal property tax, which is assessed on equipment such as machines, computers and office furniture - anything besides inventory that adds value, the newspaper said.
For years, the Guilford County tax department has relied on business owners to declare their own business personal property and its value, according to the News & Record. But last year, the county hired a private company to estimate the value of businesses' property and send assessments to the businesses, which could agree with the valuations or dispute them.
The furniture industry companies protesting the tax are arguing that their temporary status - they are only open for business during High Point Markets- should exempt them from paying the personal property tax.
The newspaper listed the protestors as Accents Beyond, Elmo Leather, Gamma Arredaminti International, Huffman Koos Furniture, Mottahedah & Co., Palliser Furniture, Trowbridge Galleries and Thayercraft Inds.
- Feb 13, 2013