Business Personal Property Tax is a tax assessed on tangible personal property businesses own. This Revenue Notice sets forth the department's position as to how it distinguishes between real property and tangible personal property for sales tax purposes.Causes of property tax variation between property types. The primary cause of variation in property tax burdens is Minnesota's classified property tax system. A personal property rendition is a report that lists all business assets (personal property) that are subject to personal property tax. Business personal property tax is a selfreporting tax where taxpayers file returns listing tangible assets they possess as of a specific date. This information describes the sales and use tax topics related to contractors and other property installers. Real property is permanently fixed and cannot be moved. Sale and purchase include the production, fabrication, printing, or processing of tangible personal property for a consideration for consumers. To collect personal property, take the affidavit to the person or business that has the property or owes the debt.
