Complete, sign, and return this form to the Personal Property Division, Bexar. The Texas Property Tax Code requires owners of business personal property (BPP) to annually render those assets used in a business.In order to be timely, payment of taxes must be postmarked on or before January 31st. All income producing tangible personal property is taxable for county appraisal district purposes. Taxable personal property includes equipment and inventory. Anyone who owns tangible personal property used for the production of income is required to render business personal property annually. See the discussion of Category F1, commercial real property, for. Business Personal Property tax is an ad valorem tax on the tangible personal property that is used for the production of income.