Personal Property

What is Personal Property?

Personal Property are items not affixed to the land. Personal Property includes all machinery, equipment, furniture, fixtures, inventory, etc. Some examples include-
  • Commercial & industrial machinery & equipment
  • Mobile homes
  • Mineral leasehold interests
  • Non-highway motor vehicles (non-running / non-tagged)
  • Watercraft
    • Inboard/Outboard boats
    • Boat motors
    • Boat trailers
    • Sailboats
    • Houseboats
    • Pontoons
    • Canoes
  • Heavy tagged vehicles
  • Non-commercial vehicles
    • Aircraft
    • Off road vehicles
      • Golf carts
      • Snowmobiles
      • Off-road motorcycles
      • Mopeds
      • ATV's
    • Trailers
    • Truck beds
How do I calculate Personal Property taxes?
The appraised value is multiplied by the assessment rate to create the assessed value. The assessed value is then multiplied by the Mill Levy for the tax unit where the property is located as of the assessment date (January 1st). This will give you the full year property tax amount

a. Example: 2.6A Appraised Value is $5,000
b. $5,000 x .30 = $1,500 (assessed value)
Multiply the assessed value by the “mill levy”
a. Example: $1,500 x .146919 = $220.38 (Tax Value)
b. Once taxing groups (school districts, cities, county, etc.) set their Mill Levy, this amount used to calculate your taxes (.146919)

 How do I know my assessment rate?
Class


 Definition


 Asmt Rate %
2.1


 Manufactured Homes


 11.5%
2.2A, 2.2B


 Oil & Gas: 5 Barrels/100 MCF or less


 25%
2.2A, 2.2B, 2.2C, 2.2D


 Oil & Gas: 5 Barrels/100 MCF or more


 30%
2.4A


 Heavy/Non-Highway Motor Vehicles


30%
2.4B


 16M/20M Trucks


 20%
2.5A, 2.5B, 2.5C


 Commercial Industrial Machinery & Equipment


 25%
2.6A, 2.6B, 2.6C

 All other Personal Property (aircraft, golf carts, trailers, atv, etc.)
 30%
 2.7  Watercraft  5%

If you have questions about what constitutes Personal Property, please contact the Appraiser's Office.

More information-