Taxpayers should use these forms and guides to apply for local tax abatements and exemptions and file property returns. What procedures exist for contesting a valuation or tax on personal property in Massachusetts?What property is exempt from personal property tax? You have three options. 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. Every business owner in the. Individuals owning or holding household furnishings and effects not located at their domicile on January 1st must also file State Tax Form 2HF. Change your address on your Personal Property tax Bill. Fill out Change of Address Business Personal Property form and send to the Assessor's office. Personal property is assets, goods and material objects used in the conduct of a business and is assessed separately from real estate.