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6016. Tangible personal property. Tangible personal property means personal property which may be seen, weighed, measured, felt, or touched, or which is in any other manner perceptible to the senses.
Tangible personal property exists physically (i.e., you can touch it) and can be used or consumed. Clothing, vehicles, jewelry, and business equipment are examples of tangible personal property.
Tangible personal property includes equipment, supplies, and any other property (including information technology systems) other than that is defined as an intangible property. It does not include copyrights, patents, and other intellectual property that is generated or developed (rather than acquired) under an award.
Tangible personal property, or TPP as it is sometimes called, includes items such as furniture, machinery, cell phones, computers, and collectibles. Intangibles, on the other hand, consist of things that cannot be seen or touched like patents and copyrights.
This property can include office furniture and supplies, machinery, tools, and vehicles. Like real property, tangible personal property tax is assessed based on the presumed value of the assets. However, finding and evaluating those values can take time and effort.
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Tangible Personal Property includes all furniture, fixtures, tools, machinery, equipment, signs, leasehold improvements, leased equipment, supplies and any other equipment that may be used as part of the ordinary course of business or included inside a rental property.

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