Get Ky Dor 62a500 (p) 2011

Tangible personal property taxes are levied on property that can be moved or touched, such as business equipment, machinery, inventory, and furniture. Forty-three states include TPP in their property tax base.

Tangible personal property is personal property that can be felt or touched. Tangible personal property in general (not just for businesses) includes furniture, equipment, vehicles, household goods, collectibles, and jewelry. ... Intangible personal property includes securities, bonds, CD's, and other intangible assets.

Tangible personal property is everything other than real estate that is used in a business or rental property. Examples of tangible personal property are computers, furniture, tools, machinery, signs, equipment, leasehold improvements, supplies, and leased equipment.

Possessions other than real estate or buildings. Personal property is movable and includes tangible (appliances, car, furniture, jewelry) and intangible (bonds, right to a benefit, shares or stocks) items whose ownership belongs to the individual. Also called chattels.

Tangible personal property taxes are levied on property that can be moved or touched, such as business equipment, machinery, inventory, and furniture.

Personal property is movable property. It's anything that can be subject to ownership, except land. Real property is immovable property - it's land and anything attached to the land. Normally, a piece of property can be easily classified as either personal property or real property.

Tangible personal property is physical property that can be touched, such as furniture, clothing, and vehicles. It's distinct from the other major class of property, real property (or real estate), in that you can move it from one location to another; real property is permanently attached to a single location.

The property appraiser places a value on the property, and the tax amount due is calculated by multiplying the property value by the tax rate set by the tax authorities in the state. Property owners who lease or rent tangible personal property must also file this return for tax purposes.

Basically, personal property is any property that is not real property. Personal property is not permanently attached to land. In most cases, it is moveable and does not last as long as real property. Personal property includes vehicles, farm equipment, jewelry, household goods, stocks, and bonds.

The State Constitution says that all property is subject to property tax unless otherwise exempt. ... Business Personal Property is any tangible property owned, claimed, used, possessed, managed or controlled in the conduct of a trade or business. This includes all machinery, fixtures, office furniture and equipment.

Business personal property ( BPP ), or business contents, refers to moveable items owned by your business. It includes office supplies, furniture, computers, machinery basically everything except for the building itself.

Every business has furniture, fixtures, equipment, inventory or other components owned by the company that lend themselves to the production of income. This is considered business personal property, and it is taxable in many jurisdictions.

Business personal property accounts for 9.8 percent of the total market value of all property in the state, and 10.5 percent of all school taxable property in the state.

Overview of Kentucky Taxes The state's average effective property tax rate is 0.85%.

Property taxes are calculated by taking the mill levy and multiplying it by the assessed value of your property. The assessed value estimates the reasonable market value for your home. It is based upon prevailing local real estate market conditions.