How is personal property valued? What personal property is subject to local taxation?We'll pay the replacement cost for items at the time of loss, then up to the full amount of the cost in today's market in the event of a covered loss. All intangible personal property is exempt from local property taxation in. Massachusetts. All owners of tangible personal property must complete and file annually a Form-of-List with the assessor in the city in which the property is located. Generally, personal property is valued using the cost method. The particular method will vary, depending on the specific property. Replacement cost insurance works more simply than actual cash value coverage. If your domicile contains more than one dwelling unit, you will still be liable for any personal property you own in the rental units. INSURE or fill in the form below to receive a Mass insurance policy quote for your personal auto, home, life or business coverage.
