State Personal Property Tax Lawyers

State Personal Property Taxes

There are forty-two states that tax personal property, which includes California, North Carolina, and Massachusetts.  Personal property taxes are generally levied by the county in which you live.  For example, the state of Pennsylvania does not tax personal property but rather, allows its local governments to do so instead.

What Personal Property is Subject to Taxes?

A variety of personal property is subject to taxes based on the state where you live.  Personal property is property that is not attached to land, and generally mobile and not as long-lasting as real property.  Common examples of personal property are cars, boats, cattle, tools, computers, and mobile home attachments.

Personal property can be characterized as “tangible” or “intangible.”  Tangible personal property is transportable and used for a certain purpose, such as furniture and occupational tools.  Intangible personal property is non-physical and economic, such as stocks, trademarks, and deeds of trust.  Some states tax both tangible and intangible personal property.

Are There Restrictions on Personal Property Taxes?

Property tax laws differ from state to state.  Some states are limited in their ability to tax your personal property.  Most states, like California, provide that property assessments can not exceed 2% annually.  In Virginia, for example, personal property tax relief is given for passenger cars, motorcycles, and pickup or panel trucks.  Other states have similar tax relief provisions.

In addition to restrictions imposed by the states, the federal government establishes boundaries on the taxation of the personal property of service members of the U.S. military services.  The personal property of service members is to be taxed only by the state that is their residence and not the state in which the service member is living temporarily to fulfill military duties.

Do I Need an Attorney to Help Me with My Personal Property Tax Matter?

Every state has its own property tax regulations.  A lawyer familiar with your state’s tax law can help you understand your tax obligations and rights.