Personal Property

Personal property, also known as business personal property is generally those items not permanently affixed to real estate. It includes any following that are used in a business or for a commercial purpose, other than real estate:
  • Equipment
  • Fixtures
  • Furniture
  • Inventory or supplies
  • Machinery
  • Most licensed vehicles
  • Signs
  • Tools
Personal property is movable and can be removed without serious damage to the real estate or to the item being removed.
  1. To whom is the tax assessed?
  2. Who is required to file a personal property report known as the form of list?
  3. When should I file the form of list?
  4. Where can I get the form of list?
  5. What do the assessors do with the form of list?
  6. What happens if I don't file a form of list?
  7. Is the form of list a public document?
  8. What is meant by type of ownership?
  9. How does the type of ownership affect the form of list?
  10. What method is used to value the personal property?
  11. Is machinery taxable?
  12. What is considered machinery for personal property purposes?
View All

Summary of Taxable Personal Property by Type of Ownership

Type of Personal Property
 Individuals, Partnerships, Trusts, Associations
 Corporations Manufacturing Corporation
Inventory, stock in trade
 Yes No No
Furniture and fixtures
 Yes No No
Tools and equipment
 Yes No No
Machinery Yes Yes No
Poles, underground conduits, wires and pipes
 Yes Yes Yes
Unregistered motor vehicles and trailers
 Yes Yes Yes