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Personal Property Tax

What is a Personal Property Tax?

Personal property taxes are taxes that add up to the value of properties that are taxable. Personal property is items that are considered to not be real property; if the properties are not real estate then the personal property taxes will apply to be paid.

Do people pay Personal Property Tax in Maryland?

In the state of Maryland there is on personal property taxes paid on businesses which is collected and reported to the local government officials. The processes of linking the taxes of all people that own personal property throughout Maryland are connected with Department of Assessments and Taxation. Personal property ranges from the furniture a person owns, office and industrial equipment, machines that operate in places such as factories, and any other personal items that are not considered to be labeled real property that would be owned by a business. The state of Maryland doesn’t have a personal property tax law that is enforced, only on business entities.

Is rental property exempt from personal property tax in Scottsdale, Arizona when a person is charged sales tax every time the person rents it?

The taxes that a person may pay for rental varies depending on the location that the property is in; in the city of Scottsdale, Arizona taxes must be paid for the residential properties and also for the commercial property. All commercial properties that are rented by a person in the city of Scottsdale result in taxes at the 1.65% tax rate. The people that own property that have residential rental property in Scottsdale also have a 1.65% tax rate if more the person owns more than two rental units in the State of Arizona. On the hand, if a person owns residential property while having one or more commercial property units, then all the residential rental property that the person owns in Scottsdale could result in paying a City tax that would be at a tax rate of 1.65%. Another factor that plays in the tax rate is the people that stay in the property.

Is personal property tax charged on an airplane if it is located in the state of Nevada or the state of Oregon? Does a person have to live in the state to be eligible or can the person just house the airplane there?

Most states will charges taxes on different types of aircraft, the gas needed for it to run, leasing of the aircraft; also it will be taxes charged for housing the airplane and for using it. In the states of New Hampshire and Oregon if the aircraft weights over 6,000 pounds then there will be no sales or use tax. Also, some states will charge taxes for services such as altering an aircraft, refurbishment and repair. The states of Nevada and Oregon will impose the taxes on the aircrafts and there are a couple of states that mandate that people that own aircrafts register their property, pay a fee that includes the value of the aircraft, how much it weights, how old the aircraft is, and the type of it.

In Ohio, is personal property tax a "tax payable to the state?"

In Ohio, the personal property tax is the tax payable to the State. Although it has been ruled out with filing property that tangible that involves a tax return to be filed; no taxes are to be paid. http://tax.ohio.gov/divisions/personal_property/index.stm

People that own personal properties are concerned about the items that they may own; but often time’s people don’t know if taxes on the items have to be paid by a certain time or have to be paid at all. What are personal property taxes? What are the deductions of the personal property taxes? Experts are here to answer concerned questions that people may have.
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