What is Business Personal Property Tax?

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WHAT IS
Business Personal Property Tax?
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What is Business Personal Property?
Any item such as furniture, machinery,etc, that a
company uses to conduct business is referred to
as business personal property Few states do not
tax business personal property whereas the others
do Some states tax both tangible and intangible
assets
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Business Personal Property Tax
Business personal property taxes are based on the
value of tangible personal property used in a
business. Tangible personal property can be
touched or felt. Of?ce furniture, computers,
heavy equipment, vehicles and inventory are
tangible personal property. Business enterprise
value, bonds, accounts receivable and contracts
(leases) are intangible personal property. Only
tangible personal property is subject to property
taxes. Intangible personal property is exempt in
all 50 states in the US. Business personal
property taxes are an ad valorem tax they are
based on the market value of the property.
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Business Personal
Property Tax Rendition
Business personal property is taxable in most
states. Assessors request that businesses provide
a list of its business personal property. The
form used by assessors request a summary based on
category of property and the amount for each
category purchased annually for the last 15 to
20 years. Assessors have forms that look of?cial
and necessary. However, most states simply
require a property owner to render information
regarding their business personal property. In
most cases, it is possible to provide an
estimate of the value of business personal
property instead of providing the detailed ?xed
asset listing. This approach saves time and
reduces business personal property taxes.
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O'Connor's BPP Tax Reduction Plan
The OConnor BPP Tax Reduction Plan takes 3 easy
steps
Request an evaluation Review with us your
evaluation results Engage with us to render our
opinion of value
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Business Personal Property Services Available
Coordination of Judicial Appeals on a
Contingency Fee Basis
Expert Appraisal by Appraisal Institute
Designated Appraisers
Rendition
Administrative Appeals
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Read more about BPP

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• What You Need To Know About Personal Property
  Valuation, the only book written on BPP
  Valuation
• Enroll Today in the Property Tax Protection
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