Sentence:  Although a similar situs for tangible property is mentioned in the statute , this is cancelled out by the provision that definite kinds of property `` and all other tangible property '' situated or being in any town <WSD>is</WSD> taxable where the property is situated . 
Meaning of the word marked with <WSD> tags:  have the quality of being; (copula, used with an adjective or a predicate noun)