Personal property taxes are a locally assessed tax, and payment dates are determined by the local assessor's office, according to Prager Metis. The tax is assessed annually, and local citizens receive a tax bill from the city or county assessor providing payment information.
Personal property taxes are based on fair market value of the resident's property, explains Prager Metis. In Prince William County, Va., residents receive their tax assessment in late summer as stated on the Prince William County Government website. Upon receipt of the property tax bill, the resident can challenge the property assessment with the appropriate documentation. Payment options and due dates vary from county to county.