RENDITION OF TAXABLE PROPERTY - GLOSSARY OF TERMS. Business Personal Property (BPP) is defined as the tangible assets of a business that are not considered real estate.Want to start a business but now sure what the first step is? Read our Starting a Business FAQs then get in touch with an SBDC Business Advisor today! A person or business who owns tangible personal property used for the production of income is required to file a rendition. Business. All activities which may be licensed under Section 11-51-90, Code of Alabama, 1975. City. The City of Tarrant, Alabama. Tarrant Small Business Development Corporation (Tarrant SBDC); TechFW. Abatement on eligible real and fixed personal property. 1) What does the term "residential real property" mean?