The Arizona Department of Revenue (Department or ADOR) administers the property tax system in cooperation with the 15 county assessors, among others. Business personal property deals with the physical assets used in the operation of the business.What is Business Personal Property? For property tax purposes in Arizona, business personal property is defined as all types of property except real estate. If a road is on an easement through private property, the owner can put up a "No Trespassing" sign on their property. How do I report Taxable Personal Property? Coconino County's Personal Property Appraisers locate and appraise all taxable business and agricultural personal property within the County.