Taxpayers should use these forms and guides to apply for local tax abatements and exemptions and file property returns. State Tax Form 2 is a form listing all personal property assets of an organization for the current fiscal year.What personal property is subject to local taxation? You have three options. Learn how to fill out a Financial Statement Form, which you need for many types of cases in Massachusetts Probate and Family Court. Example: If you were in business as of January 1st 2022; you are responsible for Fiscal Year 2023 bills which run from July 1st 2022 through June 30th 2023. If your domicile contains more than one dwelling unit, you will still be liable for any personal property you own in the rental units. Personal property tax is not pro-rated per Massachusetts General Law. A primary example of exempt property involves household furnishings and effects. United States if incorporated in another country, allows similar property tax exemptions for Massachusetts insurance corporations. Example.
