Personal Property Statement With Example In Massachusetts
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
Personal-use property is not purchased with the primary intent of making a profit, nor do you use it for business or rental purposes.
You can view your property tax bill online and print copies of it. View property tax bill and account information. If you provide an email address, the copy will be emailed within 10 business days.
You need the Virginia State's Division of Motor Vehicles website. How can I obtain information about personal property taxes? You can call the Personal Property Tax Division at (804) 501-4263 or visit the Department of Finance website .
The tax is calculated by multiplying the assessed value of the property by the personal property tax rate of the city or town. Personal property is assessed separately from real estate where it is located.
Personal Exemption Filing statusExemption amount Single $4,400 Married filing separate $4,400 Head of household $6,800 Married filing joint $8,800
Massachusetts levies an excise on each vehicle at the rate of $25 per $1,000 of valuation.
You can't deduct capital losses on the sale of personal use property. A personal use asset that is sold at a loss generally isn't reported on your tax return unless it was reported to you on a 1099-K and you can't get a corrected version from the issuer of the form.
Massachusetts General Laws Chapter 59, Section 18 It is assessed tax separately from real estate, but is taxed at the same rate. The tax rate for Fiscal Year 2025 was set at $11.15 per thousand dollars of value. Personal Property is taxable in the municipality where it is situated on January 1st of that year.
Where to Report Personal Property on Your Taxes. Claim the itemized deduction on Schedule A – State and local personal property taxes (Line 5c). Taxes you deduct elsewhere on your return — like for a home office or rental — don't qualify for this deduction.
