Personal property is considered Class II property and is taxed at 20 percent of market value. What documents should I attach to my online Tangible Personal.Property submission? Rental or leasing tax is a privilege tax levied on the lessor for renting or leasing of tangible personal property. The Personal Property Division information page of the SDAT Web site contains links to forms and instructions, brochures, exemptions, tax rate charts and more. At the top of the Business Personal Property Tax Return, copy the complete legal name of the business and the. (a) Complete all general information sections at the top of the form, whether or not they are specifically addressed in these instructions. There are currently 51 private landlord rentals in the Montgomery area. Our vast network of resources can help you rent your property. We can even help in the day-to-day tenant and property management issues.