Personal Property

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In addition to real estate, all personal property is also taxable. There are several exceptions to this general rule. The most important is the exemption for personal property in a primary residence. There are also numerous exemptions applying to various types of businesses.

Each business is required to file a list, called a FORM OF LIST, with the Board of Assessors by March 1 of each year. This list is the basis for the personal property tax assessed to the business. Personal Property is assessed at the same rate as Commercial and Industrial Property.