Personal property can be defined as property that is tangible but is not true property. In the state of Texas, the general basis for differentiating between personal property and true property is whether or not it is attached to the true property.
Take a refrigerator for example. A refrigerator is not generally considered to be attached to the true property. That said, vinyl tile, carpet, plumbing fixtures, light fixtures, etc. would be considered as being attached to the property. Personal property that is not used in the generation of income is not allowed to be taxed in Texas.
BUSINESS PERSONAL PROPERTY DEFINED
When talking about business personal property in Texas, it can be defined as any type of tangible personal property that is utilized to generate any form of income. This type of property is eligible to be taxed at the same rate as true real estate property.
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