Current use or qualifying status is the basis for differentiating the main categories of real and personal property between the nine property classes. Personal property is defined as property that is not real estate.Find answers to the a list of common questions other users have asked. You can filter the results to a particular category or properties and services. What is Business Personal Property? For property tax purposes in Arizona, business personal property is defined as all types of property except real estate. Personal property (PP) is tangible and intangible properties not included in the term real estate. What is personal property? (i) A mistake in the description of the size, use or ownership of land, improvements or personal property. For property tax purposes in Arizona, personal property is defined as all types of property except real estate.