What personal property is subject to local taxation? Complete all sections that apply.An online access code is required to register. There is a penalty for failing to file the Form of List pursuant to Massachusetts General Law c. What is personal property tax? Massachusetts assesses a tax on tangible personal property. Coverage is available for real or tangible personal property at a fixed location in the Commonwealth of. Massachusetts. Personal property is assets, goods and material objects used in the conduct of a business and is assessed separately from real estate. All tangible personal property requested in the schedules that follow. The Board of Assessors is completing the FY2025 (5-year) revaluation of all real and personal property in Medfield.