Personal property is divided into two distinct categories; Individual Personal Property and Business Personal Property.
Personal property is all tangible property other than real estate. This generally includes movable items not permanently affixed to land. Individual personal property (IPP) includes boats, trailers, unlicensed vehicles etc. Some personal property (e.g. household goods) is generally exempt from taxation, unless it is used to operate a business. If so, the property will be classified as business personal property (BPP) and is subject to taxation. BPP generally includes machinery, equipment, furniture, and computers used in business operations. Registered motor vehicles are personal property too, but they are taxed differently under the Tag & Tax Together Program.