Personal property is considered Class II property and is taxed at 20 percent of market value. A complete itemized listing of all personal property owned on October 1 must be provided to the appropriate assessing official.The Personal Property Division information page of the SDAT Web site contains links to forms and instructions, brochures, exemptions, tax rate charts and more. The Montgomery County Assessor of Property began offering an online filing option for Personal Property schedules beginning in 2020. Round amounts to the nearest whole dollar. Household Composition Summary. Records but still in use should be reported. PT-50A (PDF, 116.08 KB). Fifty cents and above should be rounded to the next highest dollar. Personal property includes automobiles, motorcycles, boats, trailers, mobile homes, airplanes, livestock, farm machinery, business equipment, etc.