What You Need to Know About Personal Property Tax Renditions
A personal property rendition is a report that lists all business assets that are subject to personal property tax. Personal property includes office equipment, furniture, refrigeration units, machinery, supplies, tools, and other items that are not permanently attached to land. Land and real estate are considered “real property”, not personal property.
Generally, inventory of goods for resale and materials used for manufacturing are not considered personal property. The same goes for intellectual property like copyrights and trademarks.
All but 12 states* in the US require businesses to complete and file a personal property rendition each year. Most personal property reporting is handled by counties rather than states, so it matters where the property is located. Businesses with multiple locations may have a variety of property tax accounts tied to different counties.
*States Without Personal Property Tax
These states generate property tax revenue from real estate taxes instead of requiring personal property renditions:
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