What is personal property and how is it taxed?

Personal property is tangible property other than real estates such as machinery, furniture, pipelines, wires, and poles. All personal property owned by a registered business organization (sole proprietorship, partnership, trust, or corporation) is taxable unless expressly exempt. Personal property is taxable in the municipality where the property is situated on January 1st each year. If a business leaves the municipality after January 1, personal property tax is due for the entire year unless an application for abatement is timely filed and granted.

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1. What is personal property and how is it taxed?
2. What is the filing deadline for Forms of List?
3. How is personal property valued?
4. How do I file a personal property abatement?