Sentence:  The Smithfield tax assessor , in turn , claims the tax under the provision of law `` and all other tangible personal property situated or being in any town , in or upon any place of storage * * h shall be taxed to such person in the town where said property <WSD>is</WSD> situated '' . 
Meaning of the word marked with <WSD> tags:  have the quality of being; (copula, used with an adjective or a predicate noun)