Homeowner's Guide, page 2 Personal Property Personal property's primary characteristic is its mobility. It includes most machinery, equipment, furniture and fixtures associated with commercial, industrial or agricultural enterprises.
Business inventories are exempt from property tax.
However, supplies consumed in the operation of a business are taxable. Everyone who uses personal property in a business must complete a personal property affidavit by April 30 each year. The affidavit must list the taxable property by category, its cost and acquisition date. The assessor uses the affidavit to value property for taxes due the following year. Personal property tax rates are the same as for real property.