personal property tax
Tax on belongings
Personal property tax is a tax levied on movable assets rather than real estate—vehicles, boats, business equipment, livestock, or other tangible goods.
Many U.S. states and localities assess this annually based on the property's value: We pay personal property tax on both cars every December.
The tax applies to items you own, not land or buildings.
Formal evaluation of worth
- levyCompulsory government charge
- filingStoring documents systematically
- auditFormal accounts examination
- complianceAdhering to requirements
lien · exemption · deduction · tangible · intangible · depreciation · collector · billing
Estimation of worth
- assessed valueTaxable worth determination
- fair market valueObjective exchange price
- market valueCurrent trading price
- depreciationAsset value reduction over time
Movable personal property
- belongingsThings you possess
- vehiclesMachines for transportation
- boatsWater vehicles with hulls
- aircraftAirborne transportation vehicle
equipment · machinery · furniture · inventory · livestock · collectibles · jewelry · artwork
Business income total
- jurisdictionLegal authority's scope
- fiscal policyState spending and taxation
- treasuryStored organizational funds
- ordinanceOfficial government regulation
statute · regulation · public services · county assessor · local government · state law · enforcement · municipal
assessment
Formal evaluation of worth
- levyCompulsory government charge
- filingStoring documents systematically
- auditFormal accounts examination
compliance · lien · exemption · deduction · tangible · intangible · depreciation · collector · billing · invoice
appraisal
Estimation of worth
- assessed valueTaxable worth determination
- fair market valueObjective exchange price
- market valueCurrent trading price
depreciation · replacement cost · schedule · self-reporting · situs
chattels
Movable personal property
- belongingsThings you possess
- vehiclesMachines for transportation
- boatsWater vehicles with hulls
aircraft · equipment · machinery · furniture · inventory · livestock · collectibles · jewelry · artwork · mobile homes
revenue
Business income total
- jurisdictionLegal authority's scope
- fiscal policyState spending and taxation
- treasuryStored organizational funds
ordinance · statute · regulation · public services · county assessor · local government · state law · enforcement · municipal · budgetary
personal property taxincome tax
Government charge on earnings
sales tax · consumption tax · value-added tax · excise tax · capital gains tax
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