This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Personal Property Personal belongings such as clothing and jewelry. Household items such as furniture, some appliances, and artwork. Vehicles such as cars, trucks, and boats. Bank accounts and investments such as stocks, bonds, and insurance policies.
Personal use property is used for personal enjoyment as opposed to business or investment purposes. These may include personally-owned cars, homes, appliances, apparel, food items, and so on.
One way to find the assessed value of your property is to check your county or local government's website, which lists the assessed property values of real estate in the municipality's taxable area. Checking your assessed value is correct helps you ensure that you're not overpaying in property taxes.
For information regarding your property tax bill (real property and motor vehicles), contact your local property tax office (county telephone numbers).
Personal property consists of, for this guide, tangible personal property or all personal property that is not intangible and is not permanently affixed to real property. Motor vehicles, if registered, are assessed ing to its registration renewal date.
Personal property owners are responsible for annually completing and submitting a personal property listing form to the Tax Office. Individual Personal Property includes, but is not limited to unlicensed motor vehicles, jet skis, campers, camper trailers, aircraft, manufactured homes, boat motors and gliders.
Personal-use property is not purchased with the primary intent of making a profit, nor do you use it for business or rental purposes.
Assessed value = Market value x Assessment rate Example: if the market value of your home is $400,000 and the assessment rate is 80%, the assessed value is $320,000.
(14) Tangible personal property. – All personal property that is not intangible and that is not permanently affixed to real property.
Put simply, assessed value is the amount your local government thinks your home is worth; it's what is used to determine property taxes. Appraised value, though, is the amount a professional home appraiser thinks your home is worth; it's typically used by lenders when considering a mortgage application.