Business Personal Property deals with the physical assets used in the operation of the business. 4 tangible and intangible property not included in the meaning of the term "real estate.Personal property is reported on the Business Property. Statement (DOR Form 82520) for commercial business property or the Agricultural Business Property. The Act is a principled, practical solution that strikes a fair balance: it allows government to bar property uses that threaten public health or safety. Landowners or lawful occupants who want to control access to their property and prevent timber theft may post signs warning people to keep out. Arizona Revised Statutes § 42-17151 provides Pima County Community College District (PCC) with the authority to levy taxes on property in Pima County. In short Business Personal Property can be defined as assets used to operate a business, farm or ranch.