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Q:  What is the basis for my personal property assessment?

A:  The assessment of personal property is based on the market value to the current owner or user of that property. Personal property is assessed at what is known as the "retail trade level" - which is the value it has to the current owner after it is installed and in use. The "retail trade level" is different than the "wholesale trade level" where dealers typically buy personal property at a discounted price for resale and not for use. Delivery and installation costs are considered to be a component of the assessed value but may not always be part of the selling price.
More information
Personal Property Tax (pdf)
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