![]() Items not subject to personal property tax include intangible personal property some jurisdictions may tax certain business personal property items but not the equivalent personal use items. in some cases, there may be cases where a mobile home is considered real property and not personal property. Types of personal property subject to personal property tax vary by jurisdiction. While real estate taxes cover only taxes on real property like a condo, home or rental property, personal property taxes include tangible and movable personal property including, transportation vehicles (like cars, planes, boats, trailers, or mobile homes). Personal property refers to items that are mobile, rather than real property that’s fixed. There is a tax on personal property called “ personal property tax,” which isn’t the same. The funds generated from real estate taxes (or real property taxes) are typically used to help pay for local and state services. They are levied on most properties in America and paid to state and local governments. ![]() ![]() Real estate taxes are the same as real property taxes. Yet, there are many different types of property an individual can own-and each type of property is taxed differently. The term “property taxes” usually refers to real estate taxes paid on your home or property.
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