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What is considered a personal property asset?

Simply put, a personal property asset is anything that a business uses to operate. The biggest distinction between personal property and real property is that personal property is moveable. ALL equipment used to run the business needs to be reported. Including a monthly estimation of supplies kept on hand such as pens, pencils, paper, staples and so forth. Keep in mind that supplies have different meaning in each industry. (record monthly estimate in top right-hand corner)

If you have further question on what is considered personal property please contact our office. 


Show All Answers

1. What is the notice I received regarding Personal Property?
2. How do I complete a personal property listing?
3. What is considered a personal property asset?
4. How can I submit my completed listing?
5. Am I being double taxed on my equipment?
6. What if I bought the equipment used or if it is extremely old?
7. I am a farm account; doesn’t that mean I am exempt from personal property tax?
8. Is there a way to file my personal property listing online?
9. Do I still have to file my listing if I have not recently purchased or sold any assets?
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