What is personal property?

Personal property is "tangible" property. That means the property physically exists. Personal property is assets, goods and material objects used in the conduct of a business and is assessed separately from real estate.

The assessment date is January 1 of each year. Any business that existed on that date is subject to personal property tax and will be billed for the entire fiscal year. This applies to businesses that have closed or relocated after the assessment date. Personal property tax is not prorated per Massachusetts General Law.

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1. What is personal property?
2. Who must file a return?
3. Where and when must my return be filed?
4. Can I get an extension of the filing deadline?
5. What is the penalty for failure to file or for filing late?
6. What is the return used for and who has access to it?
7. What personal property is taxable?
8. Where can I find forms and more information on personal property tax?