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Shawn P Adamo
Shawn P Adamo, Retired CPA
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is rental property exzempt from personal property tax in ariz

Customer Question

is rental property exzempt from personal property tax in arizona when you charge sales tax every time you rent it?
Submitted: 4 years ago.
Category: Tax
Expert:  Robin D. replied 4 years ago.

Hello and thank you for using Just Answer

The taxes that you pay for rental really depends on the city that the property is in but I can advise that in the city of Scottsdale the City taxes both the rental of residential and commercial property. All commercial property rented in the City is subject to tax at the 1.65% tax rate. Also, property owners that have residential rental property in the City and have more than two (2) such rental units available in the State of Arizona are subject to City tax at the 1.65% tax rate. Or, if a residential property owner has one (1) or more commercial property units available for rent in the State, then all residential rental property located in the City is subject to the City tax at the 1.65% tax rate.

The tax due also depends on who is occupying the property

 

The classification is dependent on whether the property is owner occupied or other.

Customer: replied 4 years ago.
I think I need to explain my question! I have a equipment rental company, I rent
motion picture lighting and grip equipment every time I rent a peace of
equipment I charge my client 9.1% sales tax whitch I pay monthly to the city of
Tucson and the state of Arizona. The city of Tucson considers all the equipment
that I rent and pay sales tax on as personal porperty ,then once a year I get a
tax bill for personal perporty with a tax rate twice that as my home in the
same city.
Expert:  Shawn P Adamo replied 4 years ago.

No. The facts you state are correct. The items you rent ARE subject to the tax. Sorry. It is what it is...in NYC the tax is 8% plus NY state tax.... In NJ there is a 7% sales tax.

 

I believe this answers your question(s). If not, please let me know.

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Edited by Shawn P Adamo, QFP, CPA/PFS, CRPC on 10/8/2010 at 12:17 PM EST
Customer: replied 4 years ago.
I'm not asking about the sales tax I'm asking about all the property in the corporation is considered personal property and once a year I get a tax bill twice the rate of my home property tax bill. Misty Production Services is a corporation owned entirely buy me.My question is if MPS pays sales tax on rented equipment every month do I have to pay personal property tax on all the assets that the corporation owns, and why is the rate twice that of my home.My home is personal property?
Expert:  Shawn P Adamo replied 4 years ago.

personal property tax ates vary by business type (corp vs sole ownership, ares town vs town, etc).

yes...you have to pay personal property tax

 

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